If any beneficiary for whom a trust is created pursuant to § 55-4-7 does not present his claim to the bank for payment within one year after it is due, the depositor who created such trust may revoke it as to such creditor.
S.D. Codified Laws § 55-4-8
Trust to pay special debts--Failure of beneficiary to present claim for payment--Revocation of trust by depositor
Known as the Uniform Trusts Act
The act spans §§ 55–55 (57 sections).
Source: SL 1943, ch 308, § 2; SDC Supp 1960, § 59.0502 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.