South Dakota Statutes

§ 55-4-8 — Trust to pay special debts--Failure of beneficiary to present claim for payment--Revocation of trust by depositor.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-4 UNIFORM TRUSTS ACT

If any beneficiary for whom a trust is created pursuant to § 55-4-7 does not present his claim to the bank for payment within one year after it is due, the depositor who created such trust may revoke it as to such creditor.

Free access — add to your briefcase to read the full text and ask questions with AI

South Dakota § 55-4-8 (Trust to pay special debts--Failure of beneficiary to present claim for payment--Revocation of trust by depositor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1943, ch 308, § 2; SDC Supp 1960, § 59.0502 (2).

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.

View on official source ↗