South Dakota § 55-13-1 Definitions.

South Dakota Statutes

§ 55-13-1 — Definitions.

South Dakota § 55-13-1

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-12REVISED UNIFORM PRINCIPAL AND INCOME ACT

This text of South Dakota § 55-13-1 (Definitions.) 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 § 55-13-1 (2026).

Text

As used in this chapter:

(1)"Income beneficiary" means the person to whom income is presently payable or for whom it is accumulated for distribution as income;

(2)"Inventory value" means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but in the case of a testamentary trust the trustee may use any value finally determined for the purposes of an estate or inheritance tax;

(3)"Remainderman" means the person entitled to principal, including income which has been accumulated and added to principal;

(4)"Trustee" means an original trustee and any successor or added trustee.

Free access — add to your briefcase to read the full text and ask questions with AI

As used in this chapter: (1) "Income beneficiary" means the person to whom income is presently payable or for whom it is accumulated for distribution as income; (2) "Inventory value" means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but in the case of a testamentary trust the trustee may use any value finally determined for the purposes of an estate or inheritance tax; (3) "Remainderman" means the person entitled to principal, including income which has been accumulated and added to principal; (4) "Trustee" means an original trustee and any successor or added trustee.