55-4-1. Definition of terms.
Terms used in this chapter mean:
(1)"Affiliate," any person directly or indirectly controlling or controlled by another person, or any person under direct or indirect common control with another person. It includes any person with whom a trustee has an express or implied agreement regarding the purchase of trust investments by each from the other, directly or indirectly, except a broker or stock exchange;
(2)"Person," an individual, a corporation, a partnership, a limited liability company, an association, a joint stock company, a business trust, a trust, an unincorporated organization, or two or more persons having a joint or common interest;
(3)"Relative," a spouse, ancestor, descendant, brother, or sister;
(4)"Trust," an express trust only;
(5)"Trustee," includes trustees, a corporate as well as a natural person and a successor or substitute trustee.
Source: SL 1943, ch 308, §1; SDC Supp 1960, §59.0501; SL 1998, ch 282, §41; SL 2015, ch 240, §19.