PocketLaw | South Dakota Codified Laws | Duties And Liabilities Of

Section
55-2-1

Trustee's obligation of good faith.

Section
55-2-2

Trustee not to use property for his own benefit--Profit of trustee from use of property, extent of liability.

Section
55-2-3

Transactions involving interest of trustee adverse to beneficiary prohibited--Exceptions.

Section
55-2-4

Measure of liability for unauthorized use or disposal of trust property--Intent to serve interest of beneficiary.

Section
55-2-11

Liability for acts of cotrustee.

Section
55-2-12

Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.

Section
55-2-13

Notice to qualified beneficiaries of existence of trust--Written directions--Information to be provided to excluded fiduciaries--Liability limits of trustee--Variation of right of a beneficiary to be informed--Confidentiality of trust information.

Section
55-2-14

Duty to provide information regarding revocable trust and its administration.

Section
55-2-15

Trustee authorized to distribute income or principal from first trust may appoint all or part in favor of trustee of second trust--Restrictions--Power of appointment to beneficiary of second trust.

Section
55-2-16

Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.

Section
55-2-17

Conditions under which beneficiary has power to change trustees.

Section
55-2-18

Exercise of power to distribute income or principal by written instrument--Notice to beneficiaries of first trust.

Section
55-2-19

Exercise of power to distribute income or principal considered exercise of power of appointment.

Section
55-2-20

Impermissible use of power.

Section
55-2-21

Trustee's right to distribute income or principal in trust arising under law or terms of first trust not abridged.

Section
55-2-22

Fiduciary duty to determine that substituted property is of equivalent value.

Section
55-2-23

Duties And Liabilities Of Trustees

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Trustee's obligation of good faith.

Trustee not to use property for his own benefit--Profit of trustee from use of property, extent of liability.

Transactions involving interest of trustee adverse to beneficiary prohibited--Exceptions.

Trustee's influence not to be used for his advantage.

Trustee not to assume a trust adverse to the interest of beneficiary.

Adverse interest of trustee--Information to beneficiary--Removal of trustee.

Fraud against beneficiary of trust.

Presumption against trustee.

Liability of trustee mingling trust property with his own.

Measure of liability for unauthorized use or disposal of trust property--Intent to serve interest of beneficiary.

Liability for acts of cotrustee.

Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.

Notice to qualified beneficiaries of existence of trust--Written directions--Information to be provided to excluded fiduciaries--Liability limits of trustee--Variation of right of a beneficiary to be informed--Confidentiality of trust information.

Duty to provide information regarding revocable trust and its administration.

Trustee authorized to distribute income or principal from first trust may appoint all or part in favor of trustee of second trust--Restrictions--Power of appointment to beneficiary of second trust.

Action that may not be taken by restricted trustee may be taken by another unrestricted trustee.

Conditions under which beneficiary has power to change trustees.

Exercise of power to distribute income or principal by written instrument--Notice to beneficiaries of first trust.

Exercise of power to distribute income or principal considered exercise of power of appointment.

Impermissible use of power.

Trustee's right to distribute income or principal in trust arising under law or terms of first trust not abridged.

Fiduciary duty to determine that substituted property is of equivalent value.

Reliance of excluded fiduciaries and trustees on tax information.