South Dakota Codified Laws 55-9-1. Express trusts–Creation for charitable, educational, religious, or other public use
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Express trusts of real or personal property, or both, may be created to receive by grant, devise, gift, or bequest, and to take charge of, invest and administer in accordance with the terms of the trust, upon and for any charitable, benevolent, educational, religious or other public use or trust.
Terms Used In South Dakota Codified Laws 55-9-1
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Source: SL 1955, ch 429, § 1; SDC Supp 1960, § 59.0601.