55-1-21.6. Discretion of trustee of purpose trust.
49 words·~1 min read·
/sd/title-55/chapter-55-1/55-1-21-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise provided in the governing instrument, a trustee of a purpose trust is vested with full discretion in:
(1)Interpreting the purposes of the trust consistent with the terms of the governing instrument; and
(2)Applying, distributing, or expending principal and income to further the trust's purposes.