A withdrawal power allows a person a right to withdraw all or some part of the trust property, whether from income or principal. The holder of a withdrawal power is not deemed to be the settlor of the trust by failing to exercise a withdrawal power or letting a withdrawal power lapse.
S.D. Codified Laws § 55-1-24.2
Withdrawal power
Source: SL 2011, ch 212, § 32; SL 2016, ch 231, § 11.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.