A trustee may advance income or make loans out of trust property to a beneficiary on terms and conditions the trustee considers to be fair and reasonable under the circumstances, for which such advance or loan the trustee shall have a lien on the future benefits of such beneficiary.
S.D. Codified Laws § 55-1A-33
Advance of income or loan to beneficiary--Lien
Applied in 1 court decision — leading case In Re: Donald Hyde Trust (2014)
Most recently applied in In Re: Donald Hyde Trust (December 2014)
Source: SL 1979, ch 336, § 33; SL 2011, ch 212, § 18.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.