{"data":{"id":"us-sd/sdcl-55-1-24","jurisdiction":"us-sd","citation":"SDCL § 55-1-24","heading":"Definitions applicable to §§ 55-1-24 to 55-1-45.","body":"Terms used in §§ 55-1-24 to 55-1-45, inclusive, mean:\n(1) \"Beneficial interest,\" is limited to mean a distribution interest or a remainder interest. A beneficial interest specifically excludes a power of appointment or a power reserved by the settlor;\n(2) \"Distribution beneficiary,\" a beneficiary who is an eligible distributee or permissible distributee of trust income or principal;\n(3) \"Distribution interest,\" a distribution interest held by a distribution beneficiary. A distribution interest may be a current distribution interest or a future distribution interest. A distribution interest may be classified as a mandatory interest, a support interest, or a discretionary interest;\n(4) \"Power of appointment,\" as defined in § 55-1-12;\n(5) \"Reach,\" with respect to a distribution interest or power, to subject the distribution interest or power to a judgment, decree, garnishment, attachment, execution, levy, creditor's bill or other legal, equitable, or administrative process, relief, or control of any court, tribunal, agency, or other entity as provided by law;\n(6) \"Remainder interest,\" an interest where a trust beneficiary receives the property outright at some time during the future;\n(7) \"Reserved power,\" a power held by the settlor.","path":["TITLE 55. FIDUCIARIES AND TRUSTS","CHAPTER 55-1. CLASSIFICATION AND CREATION OF TRUSTS"],"source_url":"https://sdlegislature.gov/Statutes/55-1-24","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"41dd81bb376ae3d8e17a3e5c02e5e85294432a0a51c1dc50ef316e6e2c871b70","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-55-1-23","next":"us-sd/sdcl-55-1-24.1"},"notice":"GroundRules: Original legal text. Not legal advice."}