Unless it is otherwise provided by the trust instrument, or an amendment thereof, or by court order, any power vested in three or more trustees may be exercised by a majority of such trustees and any power vested in two trustees shall be exercised by both of such trustees.
S.D. Codified Laws § 55-4-3
Number of trustees for exercise of powers
Known as the Uniform Trusts Act
The act spans §§ 55–55 (57 sections).
Applied in 1 court decision — leading case In re Guardianship of the Person & Estate of Estabrook (1994)
Most recently applied in In re Guardianship of the Person & Estate of Estabrook (March 1994)
Source: SL 1943, ch 308, § 11; SDC Supp 1960, § 59.0511 (1); SL 2011, ch 212, § 14.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.