The trustee of a trust described in § 55-9-7 shall not make any taxable expenditure which would give rise to any liability for the tax imposed by section 4945 (a) of the Internal Revenue Code.
S.D. Codified Laws § 55-9-12
Taxable expenditures prohibited
Source: SL 1972, ch 259, § 2 (5).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.