§ 55-14A-1 Short title
§ 55-14A-2 Definitions
§ 55-14A-3 Standard of conduct in managing and investing institutional fund
§ 55-14A-4 Appropriation for expenditure or accumulation of endowment fund–Rules ofconstruction
§ 55-14A-5 Delegation of management and investment functions
§ 55-14A-6 Release or modification of restrictions on management, investment, or purpose
§ 55-14A-7 Reviewing compliance
§ 55-14A-8 Application to existing institutional funds
§ 55-14A-9 Relation to Electronic Signatures in Global and National Commerce Act
§ 55-14A-10 Uniformity of application and construction
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Terms Used In South Dakota Codified Laws > Title 55 > Chapter 14A - Uniform Prudent Management of Institutional Funds Act

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • 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.
  • 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.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
  • Trustee: A person or institution holding and administering property in trust.