South Dakota Statutes
§ 55-12-18 — Funds to be administered by trustee under control of licensed banking institution--Report to secretary of state.
South Dakota § 55-12-18
This text of South Dakota § 55-12-18 (Funds to be administered by trustee under control of licensed banking institution--Report to secretary of state.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 55-12-18 (2026).
Text
If a perpetual care cemetery has more than three thousand people buried in the cemetery, the cemetery shall transfer all moneys from the perpetual care fund into the principal fund. The principal fund and the earnings fund of a perpetual cemetery shall be administered by an independent trustee and shall remain in the control of a licensed banking institution. No moneys may be taken out of the principal fund to pay for the costs of administering the funds. The principal fund and the earnings fund are open for public inspection. Each perpetual care cemetery shall submit a report to the secretary of state that includes the name and address of the licensed banking institution and the account numbers of the principal account and the earnings account by April 1, 2014.
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Legislative History
SL 2014, ch 228, § 6, eff. Mar. 28, 2014.
Nearby Sections
15
§ 55-1-2
Trusts classified.§ 55-1-20
Trusts for noncharitable purposes.§ 55-1-21.1
Termination of trust for care of animal.§ 55-1-21.11
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Bluebook (online)
South Dakota § 55-12-18, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/55-12-18.