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25 chapters · 550 sections in this title.
SDCL § 55-9-1 Express trusts--Creation for charitable, educational, religious, or other public use
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Express trusts of real or personal property, or both, may be created to receive by grant, devise, gift, or bequest, and to take charge of, invest and administer in accordance with the terms of the trust, upon and for any charitable, benevolent, educational, religious or other pub…
SDCL § 55-9-10 Retention of excess business holdings prohibited
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The trustee of a trust described in § 55-9-7 shall not retain any excess business holdings which would give rise to any liability for the tax imposed by section 4943 (a) of the Internal Revenue Code. Source: SL 1972, ch 259 , § 2 (3).
SDCL § 55-9-11 Investments to jeopardize exempt purposes prohibited
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The trustee of a trust described in § 55-9-7 shall not make any investments which would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of section 4944 of the Internal Revenue Code, so as to give rise to any liability for the tax imposed…
SDCL § 55-9-12 Taxable expenditures prohibited
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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. Source: SL 1972, ch 259 , § 2 (5).
