South Dakota Statutes
§ 55-16-5 — Service as investment trust advisor--Service as fiduciary by transferor.
South Dakota § 55-16-5
This text of South Dakota § 55-16-5 (Service as investment trust advisor--Service as fiduciary by transferor.) 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 § 55-16-5 (2026).
Text
Any person may serve as an investment trust advisor, as defined in subdivision 55-1B-1 (6), notwithstanding that the person is the transferor of the qualified disposition, but a transferor may not otherwise serve as a fiduciary under a trust instrument except as stated in subdivision 55-16-2 (2). While serving as an investment trust advisor of the trust, the person may have all powers authorized by statute or by the trust instrument, including the power to vote by proxy any stock owned by the trust.
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Legislative History
SL 2005, ch 261, § 5; SL 2006, ch 243, § 6; SL 2010, ch 232, § 28; SL 2012, ch 233, § 15; SL 2019, ch 209, § 8; SL 2020, ch 206, § 17.
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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 55-16-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/55-16-5.