{"data":{"id":"us-sd/sdcl-55-10a-1","jurisdiction":"us-sd","citation":"SDCL § 55-10A-1","heading":"Definitions.","body":"Terms used in this chapter mean:\n(1) \"Adult,\" a person who has attained the age of eighteen years;\n(2) \"Benefit plan,\" an employer's plan for the benefit of an employee or partner;\n(3) \"Broker,\" a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others;\n(4) \"Conservator,\" a person appointed or qualified by a court to act as general, limited or temporary conservator of a minor's property or a person legally authorized to perform substantially the same functions;\n(5) \"Custodial property,\" any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property;\n(6) \"Custodian,\" a person so designated under § 55-10A-9 or a successor or substitute custodian designated under § 55-10A-18;\n(7) \"Financial institution,\" a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law;\n(8) \"Legal representative,\" an individual's personal representative or conservator;\n(9) \"Member of the minor's family,\" the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption;\n(10) \"Minor,\" a person who has not attained the age of eighteen years;\n(11) \"Personal representative,\" an executor, administrator, successor personal representative or special administrator of a decedent's estate or a person legally authorized to perform substantially the same functions;\n(11A) \"Qualified minor's trust,\" a trust, including a trust created by a custodian, of which a minor is the sole income beneficiary and that satisfies the requirements of Section 2503(c) of the Federal Internal Revenue Code of 1986 and the regulations implementing that section;\n(12) \"State,\" includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States;\n(13) \"Transfer,\" a transaction that creates custodial property under § 55-10A-9;\n(14) \"Transferor,\" a person who makes a transfer under this chapter; and\n(15) \"Trust company,\" a financial institution, corporation or other legal entity, authorized to exercise general trust powers.","path":["TITLE 55. FIDUCIARIES AND TRUSTS","CHAPTER 55-10A. UNIFORM TRANSFERS TO MINORS ACT"],"source_url":"https://sdlegislature.gov/Statutes/55-10A-1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"d5ec629fc82ddc7e1a0eaa57fc14db6d65661e5c07e108e1369acbd29dc084ac","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-55-9-14","next":"us-sd/sdcl-55-10a-2"},"notice":"GroundRules: Original legal text. Not legal advice."}