South Dakota Codified Laws 55-2-21. Trustee’s right to distribute income or principal in trust arising under law or terms of first trust not abridged
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No provision of §§ 55-2-15 to 55-2-20, inclusive, may be construed to abridge the right of any trustee who has power to distribute income or principal in further trust which arises under statute, common law, or the terms of the first trust.
Terms Used In South Dakota Codified Laws 55-2-21
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Statute: A law passed by a legislature.
- Trustee: A person or institution holding and administering property in trust.
Source: SL 2007, ch 281, § 7; SL 2009, ch 252, § 20.