55-1B-1.1. Governing instrument may provide trust advisor or trust protector with powers and immunities of trustee.
96 words·~1 min read·
/sd/title-55/chapter-55-1/55-1b-1-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any governing instrument providing for a trust advisor or trust protector may also provide such trust advisor or trust protector with some, none, or all of the rights, powers, privileges, benefits, immunities, or authorities available to a trustee under South Dakota law or under the governing instrument. Unless the governing instrument provides otherwise, a trust advisor or trust protector has no greater liability to any person than would a trustee holding or benefiting from the rights, powers, privileges, benefits, immunities, or authority provided or allowed by the governing instrument to such trust advisor or trust protector.