South Dakota § 55-17-11 Creditor rights--Good faith between spouses.

South Dakota Statutes

§ 55-17-11 — Creditor rights--Good faith between spouses.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-17 SPECIAL SPOUSAL TRUSTS

Notwithstanding anything contained in § 55-17-9 to the contrary:

(1)A provision of a revocable South Dakota special spousal property trust does not adversely affect the interest of a creditor unless the creditor has actual knowledge of the trust when the obligation to the creditor is incurred. The interest of a creditor in an irrevocable South Dakota special spousal property trust may be subject to the rights and liabilities of a creditor with respect to transfers under chapter 55-16 as provided in § 55-17-6 ;

(2)A spouse shall act in good faith with respect to the other spouse in matters involving South Dakota special spousal property. The obligation under and effect of this section may not be varied by a South Dakota special spousal property trust.

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Notwithstanding anything contained in § 55-17-9 to the contrary: (1) A provision of a revocable South Dakota special spousal property trust does not adversely affect the interest of a creditor unless the creditor has actual knowledge of the trust when the obligation to the creditor is incurred. The interest of a creditor in an irrevocable South Dakota special spousal property trust may be subject to the rights and liabilities of a creditor with respect to transfers under chapter 55-16 as provided in § 55-17-6 ; (2) A spouse shall act in good faith with respect to the other spouse in matters involving South Dakota special spousal property. The obligation under and effect of this section may not be varied by a South Dakota special spousal property trust.

South Dakota § 55-17-11 (Creditor rights--Good faith between spouses.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.