55-3-40. Validity, construction, and administration of trust with state jurisdiction provision.
69 words·~1 min read·
/sd/title-55/chapter-55-3/55-3-40A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The validity, construction, and administration of a trust with a state jurisdiction provision are determined by the laws of this state, including the:
(1)Capacity of the trustor;
(2)Powers, obligations, liabilities, and rights of the trustees and the appointment and removal of the trustees; and
(3)Existence and extent of powers, conferred or retained, including a trustee's discretionary powers, and the validity of the exercise of a power.