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S.D. Codified Laws § 55-1-21.6

Discretion of trustee of purpose trust

Source: SL 2018, ch 275, § 9.

Except as otherwise provided in the governing instrument, a trustee of a purpose trust is vested with full discretion in:

(1) Interpreting the purposes of the trust consistent with the terms of the governing instrument; and

(2) Applying, distributing, or expending principal and income to further the trust's purposes.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.