Section 51A-6-17 - Fiduciary designation of bank as designation of substituted trust company--Exception. - South-dakota Statutes

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51A-6-17. Fiduciary designation of bank as designation of substituted trust company--Exception. Each designation in a will or other instrument heretofore or hereafter executed of a bank as fiduciary shall be deemed a designation of the trust company substituted for such bank pursuant to this chapter except if such will or other instrument is executed after such substitution and expressly negates the application of this section. Any grant in any such will or other instrument of any discretionary power shall be deemed conferred upon the trust company deemed designated as the fiduciary pursuant to this chapter.

Source: SL 1976, ch 304, § 10; SDCL, § 51-19A-17.

State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-06 > Statute-51a-6-17

51A-6-17. Fiduciary designation of bank as designation of substituted trust company--Exception. Each designation in a will or other instrument heretofore or hereafter executed of a bank as fiduciary shall be deemed a designation of the trust company substituted for such bank pursuant to this chapter except if such will or other instrument is executed after such substitution and expressly negates the application of this section. Any grant in any such will or other instrument of any discretionary power shall be deemed conferred upon the trust company deemed designated as the fiduciary pursuant to this chapter.

Source: SL 1976, ch 304, § 10; SDCL, § 51-19A-17.

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State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-06 > Statute-51a-6-17

51A-6-17. Fiduciary designation of bank as designation of substituted trust company--Exception. Each designation in a will or other instrument heretofore or hereafter executed of a bank as fiduciary shall be deemed a designation of the trust company substituted for such bank pursuant to this chapter except if such will or other instrument is executed after such substitution and expressly negates the application of this section. Any grant in any such will or other instrument of any discretionary power shall be deemed conferred upon the trust company deemed designated as the fiduciary pursuant to this chapter.

Source: SL 1976, ch 304, § 10; SDCL, § 51-19A-17.