South Dakota Codified Laws 55-1A-29. Payment of sum distributable to minor or other beneficiary under legal disability–Methods
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A trustee may make payment of any sum distributable to a minor or other beneficiary under legal disability, without liability to himself, by paying the sum in any one or more of the following ways:
(1) Directly to the beneficiary;
Terms Used In South Dakota Codified Laws 55-1A-29
- 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
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
(2) To the conservator of the beneficiary;
(3) Directly for the maintenance, education and general welfare of the beneficiary;
(4) To a parent of the beneficiary; or
(5) To anyone who has custody and care of the person of the beneficiary.
Source: SL 1979, ch 336, § 29; SL 1993, ch 213, § 253.