South Dakota Codified Laws 55-1A-5. Retention of trust property by trustee
Current as of: 2023 | Check for updates
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A trustee may collect, hold, and retain trust assets until, in his judgment, disposition of the assets should be made, without regard to any effect the retention may have upon the diversification of the trust estate. Trust property may be retained even though it includes an asset in which its trustee is personally interested.
Terms Used In South Dakota Codified Laws 55-1A-5
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 1979, ch 336, § 5.