South Dakota § 55-13A-408 Insubstantial allocations not required.

South Dakota Statutes

§ 55-13A-408 — Insubstantial allocations not required.

South Dakota § 55-13A-408

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-13AUNIFORM PRINCIPAL AND INCOME ACT

This text of South Dakota § 55-13A-408 (Insubstantial allocations not required.) 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-408 (2026).

Text

If a trustee determines that an allocation between principal and income required by § 55-13A-409 , 55-13A-410 , 55-13A-411 , 55-13A-412 , or 55-13A-415 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in § 55-13A-104(c) applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in § 55-13A-104(d) and may be released for the reasons and in the manner described in § 55-13A-104(e). An allocation is presumed to be insubstantial if:

(1)The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than ten percent; or (2) The value of the asset producing the receipt for which the allocation would be made i

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If a trustee determines that an allocation between principal and income required by § 55-13A-409 , 55-13A-410 , 55-13A-411 , 55-13A-412 , or 55-13A-415 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in § 55-13A-104(c) applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in § 55-13A-104(d) and may be released for the reasons and in the manner described in § 55-13A-104(e). An allocation is presumed to be insubstantial if: (1) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than ten percent; or (2) The value of the asset producing the receipt for which the allocation would be made is less than ten percent of the total value of the trust's assets at the beginning of the accounting period.