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§ 55-3-13 Expenses incurred by trustee in performance of trust--Reimbursement.

SD Codified L § 55-3-13 (2019) (N/A)
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55-3-13. Expenses incurred by trustee in performance of trust--Reimbursement. A trustee is entitled to the repayment, out of the trust property, of all expenses actually and properly incurred by the trustee in the performance of his or her trust. The trustee is entitled to the repayment of even unlawful expenditures, if the expenditures were productive of actual benefit to the estate. Expenses in performance of the trust include those expenses actually and properly incurred in the exercise of the trustee's powers as described in the governing instrument, in any applicable court order, or in chapter 55-1A.

Source: SDC 1939, § 59.0212; SL 2014, ch 226, § 18.

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