Express trust created as to trustee--Words and acts of trustee
Applied in 3 court decisions — leading case In Re Tri-County Water Ass'n, Inc. (1988)
Most recently applied in Bollinger v. Eldredge (August 1994)
Source: SDC 1939, § 59.0105.
An express trust is created as to the trustee by any words or acts of his, indicating with reasonable certainty:
(1) His acceptance of the trust or his acknowledgment, made upon sufficient consideration, of its existence; and
(2) The subject, purpose, and beneficiary thereof.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.