South Dakota Codified Laws 55-9-2. Validity of trust not affected by uncertainty or violation of rule against perpetuities–Disposal of property by trustee
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No such trust shall be invalid because of indefiniteness or uncertainty of the object of such trust or of the beneficiaries thereof designated in the instrument creating the same nor by reason of the same contravening any statute or rule against perpetuities, but no such trust shall be construed so as to prevent or limit the free alienation of the title to any of the trust estate by the trustee in the administration of said trust, except as may be permitted under existing or subsequent statutes.
Terms Used In South Dakota Codified Laws 55-9-2
- Statute: A law passed by a legislature.
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1955, ch 429, § 2; SDC Supp 1960, § 59.0602.