South Dakota § 55-13A-404 Principal receipts.

South Dakota Statutes

§ 55-13A-404 — Principal receipts.

South Dakota § 55-13A-404

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-13AUNIFORM PRINCIPAL AND INCOME ACT

This text of South Dakota § 55-13A-404 (Principal receipts.) 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 § 55-13A-404 (2026).

Text

A trustee shall allocate to principal:

(1)To the extent not allocated to income under this chapter, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary;

(2)Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this article;

(3)Amounts recovered from third parties to reimburse the trust because of disbursements described in § 55-13A-502(a)(7) or for other reasons to the extent not based on the loss of income;

(4)Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an acco

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A trustee shall allocate to principal: (1) To the extent not allocated to income under this chapter, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary; (2) Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this article; (3) Amounts recovered from third parties to reimburse the trust because of disbursements described in § 55-13A-502(a)(7) or for other reasons to the extent not based on the loss of income; (4) Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income; (5) Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income; and (6) Other receipts as provided in §§ 55-13A-408 to 55-13A-415 , inclusive.