Section 55-15-9 - Administration of total return unitrust--Authority of trustee. - South-dakota Statutes

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55-15-9. Administration of total return unitrust--Authority of trustee. In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:
(1) The effective date of the conversion;
(2) The timing of distributions (including provisions for prorating a distributions for a short year in which a beneficiary' right to payments commences or ceases);
(3) Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;
(4) If the trust is reconverted to an income trust, the effective date of such reconversion; and
(5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.

Source: SL 2002, ch 225, § 9.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-15 > Statute-55-15-9

55-15-9. Administration of total return unitrust--Authority of trustee. In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:
(1) The effective date of the conversion;
(2) The timing of distributions (including provisions for prorating a distributions for a short year in which a beneficiary' right to payments commences or ceases);
(3) Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;
(4) If the trust is reconverted to an income trust, the effective date of such reconversion; and
(5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.

Source: SL 2002, ch 225, § 9.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-15 > Statute-55-15-9

55-15-9. Administration of total return unitrust--Authority of trustee. In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:
(1) The effective date of the conversion;
(2) The timing of distributions (including provisions for prorating a distributions for a short year in which a beneficiary' right to payments commences or ceases);
(3) Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;
(4) If the trust is reconverted to an income trust, the effective date of such reconversion; and
(5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.

Source: SL 2002, ch 225, § 9.