55-1-38.1. Classification of interest as support interest.
70 words·~1 min read·
/sd/title-55/chapter-55-1/55-1-38-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a trust instrument containing the distribution language specifically provides that the trustee exercise discretion in a reasonable manner with regard to a discretionary interest, then notwithstanding any other provision of §§ 55-1-38 to 55-1-43 , inclusive, the distribution interest shall be classified as a support interest. A beneficiary's right to a distribution as well as a creditor's right regarding a beneficiary's support interest is governed by § 55-1-42 .