South Dakota Codified Laws 55-3-46. Effect of the laws, rules, or orders of foreign country on trust or disposition of property
No trust with South Dakota situs or governed by the laws of the State of South Dakota and no disposition of property to be held upon the terms of such trust is void, voidable, liable to be set aside, or defective in any manner by reason that:
(1) The law of any foreign country, as defined in subdivision 10-43-1(6), prohibits or does not recognize the concept of a trust; or
Terms Used In South Dakota Codified Laws 55-3-46
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
(2) The trust or disposition:
(a) Avoids or defeats any right, claim, or interest conferred by the law of a foreign country upon any person by reason of a personal relationship to the trustor or by way of heirship rights; or
(b) Contravenes any rule or law of a foreign country or any foreign country’s judicial or administrative order or action intended to recognize, protect, enforce, or give effect to such a right, claim, or interest.
Source: SL 2005, ch 260, § 8.