A hybrid purpose trust which meets the description of a purpose trust in §§ 55-1-20 to 55-1-21.10, inclusive, also includes one or more beneficiaries is valid and may be performed.
S.D. Codified Laws § 55-1-22
Hybrid purpose trusts valid
Source: SL 2006, ch 247, § 3; SL 2018, ch 275, § 14.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.