Section 55-1A-20 – Payment of calls, assessments, and other sums charged against corporate securities.
55-1A-20. Payment of calls, assessments, and other sums charged against corporate securities. A trustee may pay calls, assessments, and any other sums chargeable or accruing against or on account of shares of stock, bonds, debentures, or other corporate securities held in trust. Source: SL 1979, ch 336, §20.
Section 55-1A-35 – Execution and delivery of instruments.
55-1A-35. Execution and delivery of instruments. A trustee may execute and deliver all instruments which will accomplish or facilitate the exercise of the powers vested in himself. Source: SL 1979, ch 336, §35.
Section 55-1A-21 – Corporate powers–Stocks–Reorganizations and mergers–Sales and leases.
55-1A-21. Corporate powers–Stocks–Reorganizations and mergers–Sales and leases. A trustee may sell or exercise stock subscription or conversion rights; participate in foreclosures, reorganizations, consolidations, mergers or liquidations; and consent, directly or through a committee or other agent, to corporate sales, leases and encumbrances. In the exercise of such powers a trustee may, where he deems such […]
Section 55-1A-36 – Holding of two or more trusts with undivided interests.
55-1A-36. Holding of two or more trusts with undivided interests. A trustee may hold two or more trusts or parts of trusts created by the same instrument, as an undivided whole, without separation between such trusts or parts of such trusts; provided that, such separate trusts or parts of such trusts shall have undivided interests […]
Section 55-1A-22 – Holding stock in nominee’s name without disclosing fiduciary relationship.
55-1A-22. Holding stock in nominee’s name without disclosing fiduciary relationship. A trustee may hold any stock or other security in the name of a nominee or nominees, without disclosure of any fiduciary relationship, but he shall be liable for any and all acts and omissions of the nominee relating to such assets. Source: SL 1979, […]
Section 55-1A-37 – Citation of chapter.
55-1A-37. Citation of chapter. This chapter may be cited or referred to as the “South Dakota Trustees’ Powers Act.” Source: SL 1979, ch 336, §37.
Section 55-1A-23 – Borrowing money against trust assets.
55-1A-23. Borrowing money against trust assets. A trustee may borrow money, and mortgage or otherwise encumber or pledge trust assets, for a term within or extending beyond the term of his trust, in connection with the exercise of any power vested in himself. Source: SL 1979, ch 336, §23.
Section 55-1A-38 – Trustee may perform necessary and appropriate acts.
55-1A-38. Trustee may perform necessary and appropriate acts. A trustee may perform such other acts, which, in the judgment of the trustee, may be necessary or appropriate for the proper management, investment, and distribution of the trust estate. Source: SL 1998, ch 282, §37.
Section 55-1A-24 – Contracts binding upon trust.
55-1A-24. Contracts binding upon trust. A trustee may enter into contracts binding upon his trust which are reasonably incident to the administration of the trust and which he believes to be for the best interests of the trust. Source: SL 1979, ch 336, §24.
Section 55-1A-25 – Claims in favor of or against trust or trustee.
55-1A-25. Claims in favor of or against trust or trustee. A trustee may pay, compromise, contest, submit to arbitration, or otherwise settle any and all claims in favor of or against his trust or himself as trustee. Source: SL 1979, ch 336, §25.