LegalFix
Sign In

§ 55-15-9 Administration of total return unitrust--Authority of trustee.

SD Codified L § 55-15-9 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

55-15-9. Administration of total return unitrust--Authority of trustee. In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:

(1) The effective date of the conversion;

(2) The timing of distributions (including provisions for prorating a distributions for a short year in which a beneficiary' right to payments commences or ceases);

(3) Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;

(4) If the trust is reconverted to an income trust, the effective date of such reconversion; and

(5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.Source: SL 2002, ch 225, § 9.

Previous Section
§ 55-15-8 Unitrust amount as net income of trust--Allocation of capital gains to trust income.
Next Section
§ 55-15-10 Distributions of principal not affected by conversion.