South Dakota Codified Laws 55-16-7. Disposition to more than one trustee–Qualified disposition even if all trustees are not qualified persons
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In the case of a disposition to more than one trustee, a disposition that is otherwise a qualified disposition may not be treated as other than a qualified disposition solely because not all of the trustees are qualified persons.
Terms Used In South Dakota Codified Laws 55-16-7
- Trustee: A person or institution holding and administering property in trust.
Source: SL 2005, ch 261, § 7.