S.D. Codified Laws § 55-16-14

Current through the 2024 Legislative Session

Section 55-16-14 - Multiple qualified dispositions in same trust instrument

If more than one qualified disposition is made by means of the same trust instrument:

(1) The making of a subsequent qualified disposition shall be disregarded in determining whether a creditor's claim with respect to a prior qualified disposition is extinguished as provided in § 55-16-10; and

(2) Any distribution to a beneficiary is deemed to have been made from the latest such qualified disposition.

SDCL 55-16-14

SL 2005, ch 261, §14.