SDCL § 55-1-22.4: Application of §§ 55-1-21 to 55-1-21.9 to hybrid purpose trust--Exceptions.
Where this section sits in the code
- TITLE 55. FIDUCIARIES AND TRUSTS
- CHAPTER 55-1. CLASSIFICATION AND CREATION OF TRUSTS
The provisions of §§ 55-1-21 to 55-1-21.9, inclusive, apply to a hybrid purpose trust except that:
(1) Under § 55-1-21.1, except as otherwise provided in the governing instrument, a trust as described in subdivision 55-1-21(1) terminates when no living animal is covered by the trust unless the trust may continue for the benefit of the beneficiaries; and
(2) Under § 55-1-21.2, a court has no power to reduce the amount of trust property intended for or allocated to any beneficiaries or any charitable purposes.
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