South Dakota Statutes

§ 55-2-6 — Adverse interest of trustee--Information to beneficiary--Removal of trustee.

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

If a trustee acquires any interest or becomes charged with any duty adverse to the interest of his beneficiary in the subject of the trust, he must immediately inform the latter thereof and may be at once removed.

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South Dakota § 55-2-6 (Adverse interest of trustee--Information to beneficiary--Removal of trustee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

In Re the Estate of Stevenson

2000 SD 24 (South Dakota Supreme Court, 2000)

29 case citations

Legislative History

SDC 1939, § 59.0111.

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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