South Dakota Codified Laws 55-10A-4. Transfer by gift or exercise of power of appointment
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Any person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to § 55-10A-9.
Terms Used In South Dakota Codified Laws 55-10A-4
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1986, ch 409, § 4.