South Dakota § 55-4-10 Loan of trust funds.

South Dakota Statutes

§ 55-4-10 — Loan of trust funds.

South Dakota § 55-4-10

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-4UNIFORM TRUSTS ACT

This text of South Dakota § 55-4-10 (Loan of trust funds.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 55-4-10 (2026).

Text

Except as provided in §§ 55-4-11 and 55-4-12 , or except as may be expressly authorized by a court order, by the written consent of all qualified beneficiaries which may be given notwithstanding the provisions of § 55-4-31 , by the written authorization from or direction by a trust protector, or by the terms of the governing instrument, which may be given by the settlor notwithstanding the provisions of § 55-4-30 :

(1)No corporate trustee may lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate;

(2)No noncorporate trustee may lend trust funds to himself or herself, or to any relative, employer, employee, partner, or other business associate.

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Except as provided in §§ 55-4-11 and 55-4-12 , or except as may be expressly authorized by a court order, by the written consent of all qualified beneficiaries which may be given notwithstanding the provisions of § 55-4-31 , by the written authorization from or direction by a trust protector, or by the terms of the governing instrument, which may be given by the settlor notwithstanding the provisions of § 55-4-30 : (1) No corporate trustee may lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate; (2) No noncorporate trustee may lend trust funds to himself or herself, or to any relative, employer, employee, partner, or other business associate.