South Dakota § 55-2-16 Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.

South Dakota Statutes

§ 55-2-16 — Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-2 DUTIES AND LIABILITIES OF TRUSTEES

Any action that may not be taken by a trustee of the first trust by reason of the restrictions in subdivision 55-2-15(2) may instead be taken by any other trustee of the first trust who is not so restricted, or, if none, by the next available party who can be a successor trustee and who is not so restricted. The second trust may be a trust created or administered under the laws of any jurisdiction, within or without the United States.

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Any action that may not be taken by a trustee of the first trust by reason of the restrictions in subdivision 55-2-15(2) may instead be taken by any other trustee of the first trust who is not so restricted, or, if none, by the next available party who can be a successor trustee and who is not so restricted. The second trust may be a trust created or administered under the laws of any jurisdiction, within or without the United States.

South Dakota § 55-2-16 (Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.