South Dakota Codified Laws 55-3-5. Trustee to follow declaration of trust–Modifications
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A trustee shall fulfill the purposes of the trust as declared at its creation, or as subsequently amended, and shall follow all the directions of the trustor given at that time, except as modified. For purposes of modifications by consent of all parties interested and modifications upon approval by the court, the provisions of chapter 55-18 apply to such modifications.
Terms Used In South Dakota Codified Laws 55-3-5
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
Source: SDC 1939, § 59.0204; SL 1993, ch 355, § 5; SL 2017, ch 208, § 32; SL 2021, ch 207, § 2.