South Dakota Statutes
§ 55-16-4 — Persons and entities not to be considered qualified person--Appointment, removal, or replacement of co-trustee, trust advisor, or trust protector.
Neither the transferor nor any other natural person who is a nonresident of this state nor an entity that is not authorized by the law of this state to act as a trustee or whose activities are not subject to supervision as provided in § 55-16-3 may be considered a qualified person. However, nothing in this chapter precludes a transferor from appointing, removing, or replacing one or more co-trustees, trust advisors, or trust protectors, regardless of whether or not such trust advisor or trust protector is a fiduciary.
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South Dakota § 55-16-4 (Persons and entities not to be considered qualified person--Appointment, removal, or replacement of co-trustee, trust advisor, or trust protector.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2005, ch 261, § 4; SL 2006, ch 243, § 5; SL 2011, ch 212, § 6.
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
Co-enforcer appointment--Powers.