South Dakota Codified Laws 55-9-12. Taxable expenditures prohibited
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The trustee of a trust described in § 55-9-7 shall not make any taxable expenditure which would give rise to any liability for the tax imposed by section 4945 (a) of the Internal Revenue Code.
Terms Used In South Dakota Codified Laws 55-9-12
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1972, ch 259, § 2 (5).