55-16-14. Multiple qualified dispositions in same trust instrument. If more than one qualified disposition is made by means of the same trust instrument:
(1) The making of a subsequent qualified disposition shall be disregarded in determining whether a creditor's claim with respect to a prior qualified disposition is extinguished as provided in § 55-16-10; and
(2) Any distribution to a beneficiary is deemed to have been made from the latest such qualified disposition.Source: SL 2005, ch 261, § 14.
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