South Dakota Codified Laws 55-18-21. Limitations on trustee’s authority to bind beneficiary
Current as of: 2023 | Check for updates
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Without diminishing the powers of a trustee over the affairs of the trust or trust property, a trustee may not bind a beneficiary of the trustee’s trust except as provided in subdivisions 55-18-9(5), (9), (11), and (16).
Terms Used In South Dakota Codified Laws 55-18-21
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
Source: SL 2017, ch 208, § 21; SL 2019, ch 209, § 10.