South Dakota Codified Laws 1-18B-5. Acceptance and administration of gifts and grants
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The State Historical Society Board of Trustees may apply for, receive, accept, and administer any gift, bequest, devise, or grant of money or property, either public or private, and may comply with the requirements of the donor or grantor as a condition thereof, to further the purposes and accomplish the duties of the board as assigned by law.
Terms Used In South Dakota Codified Laws 1-18B-5
- Bequest: Property gifted by will.
- board: as used in this chapter means the State Historical Society Board of Trustees provided for by §. See South Dakota Codified Laws 1-18B-1
- Devise: To gift property by will.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1974, ch 9, § 5.