Section 55-1A-28 – Creation of reserves.
55-1A-28. Creation of reserves. A trustee may create reserves out of income for depreciation, obsolescence, or amortization, or for the depletion of mineral or timber properties. Source: SL 1979, ch 336, §28.
Section 55-1A-29 – Payment of sum distributable to minor or other beneficiary under legal disability–Methods.
55-1A-29. Payment of sum distributable to minor or other beneficiary under legal disability–Methods. A trustee may make payment of any sum distributable to a minor or other beneficiary under legal disability, without liability to himself, by paying the sum in any one or more of the following ways: (1)Directly to the beneficiary; (2)To the conservator […]
Section 55-1A-30 – Distribution of property and money.
55-1A-30. Distribution of property and money. A trustee may effect distribution of property and money in divided or undivided interests, and adjust the resulting differences in valuation. Source: SL 1979, ch 336, §30.
Section 55-1A-15 – Razing or erection of party walls or buildings.
55-1A-15. Razing or erection of party walls or buildings. A trustee may raze existing, or erect new, party walls or buildings, alone or jointly with owners of adjacent property. Source: SL 1979, ch 336, §15.
Section 55-1A-16 – Land development or dedication–Valuation adjustments.
55-1A-16. Land development or dedication–Valuation adjustments. A trustee may subdivide, develop or dedicate land to public use; make or obtain the vacation of plats and adjust boundaries; adjust differences in valuation on the exchange or partition of land by giving or receiving consideration; or dedicate easements to public use without consideration. Source: SL 1979, ch […]
Section 55-1A-17 – Mineral and natural resource leases and explorations.
55-1A-17. Mineral and natural resource leases and explorations. A trustee may enter into a lease or arrangement for the exploration for and removal of oil, gas and other minerals or other natural resources, and he may enter into pooling and unitization agreements. Source: SL 1979, ch 336, §17.
Section 55-1A-18 – Insurance.
55-1A-18. Insurance. A trustee may insure the assets of his trust against damage or loss, and the trustee against liability to third persons. Source: SL 1979, ch 336, §18.
Section 55-1A-19 – Voting stock or securities–Voting trust agreements.
55-1A-19. Voting stock or securities–Voting trust agreements. A trustee may vote shares of stock or other securities held in trust, in person or by general or limited proxy, and he may enter into voting trust agreements on such terms and for such periods as he deems advisable. Source: SL 1979, ch 336, §19.
Section 55-1A-10 – Deposit of trust funds in bank.
55-1A-10. Deposit of trust funds in bank. A trustee may deposit trust funds in a bank, including a bank operated by himself, or in a state or federal savings and loan association. Source: SL 1979, ch 336, §10.
Section 55-1A-11 – Disposal of trust assets.
55-1A-11. Disposal of trust assets. A trustee may acquire, sell, or otherwise dispose of an asset, at public or private sale, for cash or on credit, with or without security as he deems advisable, and he may manage, develop, exchange, partition, change the character of, or abandon a trust asset or any interest therein. Source: […]