Except as provided in §§ 55-13-9 and 55-13-10, if the principal consists of property subject to depletion, including leaseholds, patents, copyrights, royalty rights, and rights to receive payments on a contract for deferred compensation, receipts from the property, not in excess of five percent per year of its inventory value, are income, and the balance is principal.
S.D. Codified Laws § 55-13-11
Other property subject to depletion
Known as the Revised Uniform Principal and Income Act
The act spans §§ 55-13-1 to 55-13-9 (18 sections).
Source: SL 1984, ch 323, § 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.