South Dakota Statutes

§ 55-2-5 — Trustee not to assume a trust adverse to the interest of beneficiary.

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

No trustee so long as he remains in the trust may undertake another trust adverse in its nature to the interest of his beneficiary in the subject of the trust without the consent of the latter.

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South Dakota § 55-2-5 (Trustee not to assume a trust adverse to the interest of beneficiary.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SDC 1939, § 59.0110.

Nearby Sections

15

§ 55-1-1

Purposes for which trust may be created.

§ 55-1-10

Transfer of real property to one for money paid by another--Trust presumed.

§ 55-1-11

Implied trust--Declaration by court of equity.

§ 55-1-12

Trustor, trustee, beneficiary, power of appointment, and person defined.

§ 55-1-13

Voluntary trustee--Assumption of relationship.

§ 55-1-14

Interest in existing trust--Transfer by operation of law or written instrument.

§ 55-1-15

Certain trusts not terminated upon trustor's death.

§ 55-1-2

Trusts classified.

§ 55-1-20

Trusts for noncharitable purposes.

§ 55-1-21

Trust for care of animal, care of other property, or other lawful noncharitable purpose.

§ 55-1-21.1

Termination of trust for care of animal.

§ 55-1-21.10

Trustee may not use principal and income other than for trust's purposes.

§ 55-1-21.11

Co-enforcer appointment--Powers.

§ 55-1-21.2

Judicial reduction of property transferred to trustee if trust corpus exceeds amount required for intended purposes.

§ 55-1-21.3

Court order where fulfillment of purposes are impossible, inexpedient, or unlawful.

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