Section 55-2-17 - Conditions under which beneficiary has power to change trustees. - South-dakota Statutes

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55-2-17. Conditions under which beneficiary has power to change trustees. For the purposes of § 55-2-15, a beneficiary shall be considered to have the power to "change the trustees" if he or she can, alone or with others, name himself or herself as a trustee or can remove a trustee and replace that trustee with a new trustee who is the beneficiary or who is related or subordinate (as defined in § 672 of the I.R.C.) to the beneficiary.

Source: SL 2007, ch 281, § 3; SL 2009, ch 252, § 18.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-02 > Statute-55-2-17

55-2-17. Conditions under which beneficiary has power to change trustees. For the purposes of § 55-2-15, a beneficiary shall be considered to have the power to "change the trustees" if he or she can, alone or with others, name himself or herself as a trustee or can remove a trustee and replace that trustee with a new trustee who is the beneficiary or who is related or subordinate (as defined in § 672 of the I.R.C.) to the beneficiary.

Source: SL 2007, ch 281, § 3; SL 2009, ch 252, § 18.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-02 > Statute-55-2-17

55-2-17. Conditions under which beneficiary has power to change trustees. For the purposes of § 55-2-15, a beneficiary shall be considered to have the power to "change the trustees" if he or she can, alone or with others, name himself or herself as a trustee or can remove a trustee and replace that trustee with a new trustee who is the beneficiary or who is related or subordinate (as defined in § 672 of the I.R.C.) to the beneficiary.

Source: SL 2007, ch 281, § 3; SL 2009, ch 252, § 18.