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

1. Law
2. South Dakota Codified Laws
3. Fiduciaries and Trusts
4. Duties And Liabilities Of Trustees
5. Fiduciary duty to determine that substituted property is of equivalent value.

55-2-22. Fiduciary duty to determine that substituted property is of equivalent value.

Notwithstanding the terms of a trust instrument, if a settlor has a power to substitute property of equivalent value, a trustee has a fiduciary duty to determine that the substituted property is of equivalent value, prior to allowing the substitution.

Source: SL 2009, ch 252, §21.

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