A trustee may borrow money, and mortgage or otherwise encumber or pledge trust assets, for a term within or extending beyond the term of his trust, in connection with the exercise of any power vested in himself.
S.D. Codified Laws § 55-1A-23
Borrowing money against trust assets
Source: SL 1979, ch 336, § 23.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.