§ 55-9-1 Express trusts–Creation for charitable, educational, religious, or other public use
§ 55-9-2 Validity of trust not affected by uncertainty or violation of rule against perpetuities–Disposal of property by trustee
§ 55-9-3 Action to enforce charitable trust–Liberal construction to carry out intent–Notice ofaction to attorney general
§ 55-9-4 Incomplete or imperfect trust–Purposes impracticable or impossible of performance–Administration to accomplish general purpose–Order of court with consent ofdonor, if alive and
§ 55-9-5 Enforcement by attorney general as representative of beneficiaries–Exception
§ 55-9-6 Restrictions to avoid taxability of income–Definition of terms
§ 55-9-7 Restrictions deemed incorporated in instrument creating charitable trust orfoundation
§ 55-9-8 Self-dealing by trustee prohibited
§ 55-9-9 Distributions required to avoid taxes
§ 55-9-10 Retention of excess business holdings prohibited
§ 55-9-11 Investments to jeopardize exempt purposes prohibited
§ 55-9-12 Taxable expenditures prohibited
§ 55-9-13 Judicial determination that restrictive provisions are contrary to instrument creatingtrust
§ 55-9-14 State supervisory powers unimpaired by restrictions to avoid taxability of income
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Terms Used In South Dakota Codified Laws > Title 55 > Chapter 9 - Charitable Trusts

  • Bequest: Property gifted by will.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Devise: To gift property by will.
  • Donor: The person who makes a gift.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.