South Dakota § 55-15-9 Administration of total return unitrust--Authority of trustee.

South Dakota Statutes

§ 55-15-9 — Administration of total return unitrust--Authority of trustee.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-14A TOTAL RETURN UNITRUSTS

In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:

(1)The effective date of the conversion;

(2)The timing of distributions during the year, if any, including provisions for prorating distributions for a short year when the effective date of a conversion takes place during the year;

(3)Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;

(4)If the trust is reconverted to an income trust, the effective date of such reconversion; and (5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.

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In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine: (1) The effective date of the conversion; (2) The timing of distributions during the year, if any, including provisions for prorating distributions for a short year when the effective date of a conversion takes place during the year; (3) Whether distributions are to be made in cash or in kind or partly in cash and partly in kind; (4) If the trust is reconverted to an income trust, the effective date of such reconversion; and (5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.

South Dakota § 55-15-9 (Administration of total return unitrust--Authority of trustee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.