55-9-7. Restrictions deemed incorporated in instrument creating charitable trust or foundation.
152 words·~1 min read·
/sd/title-55/chapter-55-9/55-9-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any will or trust instrument creating a trust which is a private foundation, charitable trust, or a split - interest trust and any other instrument governing the trustee of any such trust or the use, retention, or disposition of any of the income or property of such trust, shall be deemed to have incorporated within such will, trust instrument, or other governing instrument with the same effect as though such language were set forth verbatim in such will, trust instrument, or other governing instrument, the provisions set forth in §§ 55-9-8 to 55-9-12 , inclusive, with respect to such trust and the trustee thereof, and, except as the contrary is provided in §§ 55-9-13 and 55-9-14 , such provisions shall govern the administration and distribution of any such trust irrespective of any provisions of any applicable will, trust instrument, or other governing instrument, statute or law of this state to the contrary.