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§ 55-1-22.4 Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.

SD Codified L § 55-1-22.4 (2019) (N/A)
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55-1-22.4. Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions. The provisions of §§ 55-1-21 to 55-1-21.9, inclusive, apply to a hybrid purpose trust except that:

(1) Under § 55-1-21.1, except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and

(2) Under § 55-1-21.2, a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes.Source: SL 2018, ch 275, § 18.

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§ 55-1-22.3 Spendthrift provision in hybrid purpose trust--Qualified dispositions in trust.
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§ 55-1-22.5 Discretion of trustee of hybrid purpose trust.