South Dakota Codified Laws 55-2-19. Exercise of power to distribute income or principal considered exercise of power of appointment
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The exercise of the power to distribute the income or principal of the trust under § 55-2-15 shall be considered the exercise of a power of appointment (other than a power to appoint to the trustee, the trustee’s creditors, the trustee’s estate, or the creditors of the trustee’s estate).
Terms Used In South Dakota Codified Laws 55-2-19
- Trustee: A person or institution holding and administering property in trust.
Source: SL 2007, ch 281, § 5.