South Dakota Codified Laws 21-22-32. Title 55 governs actions of trustee as party to transaction
Current as of: 2023 | Check for updates
|
Other versions
Notwithstanding the application of the principles of conflict of laws to the terms of a transaction involving a trust, whether a purchase of property by, or a sale of property to, a trust administered by a qualified person in South Dakota, as defined in § 55-3-41, the laws of this state as set forth in title 55 shall govern the actions of the trustee as a party thereto. South Dakota shall be considered the situs of the transaction.
Terms Used In South Dakota Codified Laws 21-22-32
- 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.
Source: SL 2017, ch 204, § 27.