South Dakota Statutes
§ 55-16-6 — Successor qualified person.
If a qualified person of a trust ceases to meet the requirements of § 55-16-3 , and there remains no trustee that meets such requirements, such qualified person shall be deemed to have resigned as of the time of such cessation, and thereupon the successor qualified person provided for in the trust instrument shall become a qualified person of the trust, or in the absence of any successor qualified person provided for in the trust instrument, the circuit court shall, upon application of any interested party, appoint a successor qualified person.
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South Dakota § 55-16-6 (Successor qualified person.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2005, ch 261, § 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.