55-1-22.1. Separate shares for beneficiaries and purposes to be maintained in hybrid purpose trust.
57 words·~1 min read·
/sd/title-55/chapter-55-1/55-1-22-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In a hybrid purpose trust when the interests of the beneficiaries and purposes are concurrent, the trustee shall maintain not less than two separate shares, one for the beneficiaries; and a second for the purposes, and the trustee may be liable to the beneficiaries for the actual damages caused thereby, if any, for failing to do so.