55-4-28. Personal liability for tort committed by trustee. The trustee may also be held personally liable for any tort committed by him, or by his agents or employees in the course of their employments, subject to the rights of exoneration or reimbursement provided in §§55-4-22 and 55-4-23. Source: SL 1943, ch 308, §14; SDC Supp […]
55-4-29. Existing law as to charitable immunity not changed by law as to tort liability of trust estate. Nothing in §§55-4-25 to 55-4-28, inclusive, shall be construed to change the existing law with regard to the liability of trustees of charitable trusts for torts of themselves or their employees. Source: SL 1943, ch 308, §14; […]
55-4-3. Number of trustees for exercise of powers. Unless it is otherwise provided by the trust instrument, or an amendment thereof, or by court order, any power vested in three or more trustees may be exercised by a majority of such trustees and any power vested in two trustees shall be exercised by both of […]
55-4-30. Power of settlor of trust. Subject to the final paragraph below, the settlor of any trust affected by this chapter may: (1)By provision in the instrument creating the trust if the trust was created by a writing; (2)By oral statement to the trustee at the time of the creation of the trust if the […]
55-4-31. Trustee not liable if beneficiary consents to conduct or releases trustee from liability or ratifies transaction. A trustee is not liable to a beneficiary, as defined under this title or Title 29A, for breach of trust from any or all of the duties, restrictions, and liabilities which would otherwise be imposed on the trustee, […]
55-4-32. Relieving trustee of duties–Power of the court. A court of competent jurisdiction may, for cause shown and upon notice to the beneficiaries, relieve a trustee from any or all of the duties and restrictions which would otherwise be placed upon him by this chapter, or wholly or partly excuse a trustee who has acted […]
55-4-33. Liabilities for violations of chapter. If a trustee violates any of the provisions of this chapter, he may be removed and denied compensation in whole or in part; and any beneficiary, cotrustee, or successor trustee may treat the violation as a breach of trust. Source: SL 1943, ch 308, §20; SDC Supp 1960, §59.0520.
55-4-34. Application of chapter to testamentary trust. This chapter shall apply only to testamentary trusts created by wills or codicils executed after July 1, 1943 and to nontestamentary trusts created after July 1, 1943. Source: SL 1943, ch 308, §25; SDC Supp 1960, §59.0523.
55-4-35. Uniformity of interpretation. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. Source: SL 1943, ch 308, §21; SDC Supp 1960, §59.0521.
55-4-36. Citation of chapter. This chapter may be cited as the Uniform Trusts Act. Source: SL 1943, ch 308, §22; SDC Supp 1960, §59.0522.
55-4-37. Liability for fiduciary’s partnership interest limited. If permitted by the trust instrument or will under which a fiduciary serves, or by order of a court having jurisdiction of the estate or trust, a fiduciary may enter into a partnership agreement or arrangement with others or accept the assignment of, or otherwise acquire, hold, and […]
55-4-38. Limitation on trustee’s power to make distributions to his or her benefit. Unless the terms of the trust refer to this section and provide otherwise, a power, including the power to make a distribution to another trust under §55-2-15, that is exercisable by or attributable to a person, other than the settlor, in such […]
55-4-39.”Trustee” construed broadly. The reference to trustee in §55-4-38 includes any person who is deemed to have any power of a trustee, whether because such person has the right to remove or replace any trustee, or because a reciprocal trust or power doctrine applies, or otherwise. Source: SL 2000, ch 229, §5.
55-4-4. Liability of trustee not joining in exercise of power. No trustee who has not joined in exercising a power shall be liable to the beneficiaries or to others for the consequences of such exercise, nor shall a dissenting trustee be liable for the consequences of an act in which he joins at the direction […]
55-4-40. Applicability of §§55-4-38 and 55-4-39. The provisions of §§55-4-38 and 55-4-39 apply to any trust established before or after July 1, 2000. Source: SL 2000, ch 229, §6.
55-4-41. Certain trustees exempted from §§55-4-38 to 55-4-40, inclusive. The provisions of §§55-4-38 to 55-4-40, inclusive, do not apply to a decedent’s or settlor’s spouse who is the trustee of a testamentary trust or an inter vivos trust for which a marital deduction is allowable. Source: SL 2000, ch 229, §7.
55-4-5. Cotrustee–Liability for maladministration of trust. Nothing in §55-4-3 or 55-4-4 shall excuse a cotrustee from liability for inactivity in the administration of the trust nor for failure to attempt to prevent a breach of trust. Source: SL 1943, ch 308, §11; SDC Supp 1960, §59.0511 (2).
55-4-50. Co-trustee’s inability or failure to perform. If a co-trustee is unable to perform duties because of absence, illness, disqualification under other law, or other incapacity, or fails to perform duties due to inaction or neglect, and action is necessary or appropriate under the circumstances to achieve the purposes of the trust or to avoid […]
55-4-51. Certificate of trust furnished in lieu of copy of trust instrument or will that creates testamentary trust–Contents. Instead of furnishing a copy of the trust instrument or a copy of a will that creates a testamentary trust to a person other than a beneficiary, one or more trustees may furnish to the person a […]
55-4-51.1. Recording of certificate of trust–Reliance upon content. A certificate of trust executed under §55-4-51 may be recorded in the office of the register of deeds with respect to land described in the certificate of trust or any attachment to it. If it is recorded or filed in any county where real property is situated, […]
