South Dakota § 55-13-1 - Definitions.
Full text of South Dakota South Dakota Codified Laws § 55-13-1 — Definitions., with citation guidance and answers to common questions.
§ 55-13-1. Definitions.
As used in this chapter:
(1) "Income beneficiary" means the person to whom income is presently payable or for whom it is accumulated for distribution as income;
(2) "Inventory value" means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but in the case of a testamentary trust the trustee may use any value finally determined for the purposes of an estate or inheritance tax;
(3) "Remainderman" means the person entitled to principal, including income which has been accumulated and added to principal;
(4) "Trustee" means an original trustee and any successor or added trustee.
Source: SL 1984, ch 323, § 1.
Frequently Asked Questions About South Dakota § 55-13-1
What does South Dakota Codified Laws § 55-13-1 cover?
Section 55-13-1 ("Definitions.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 55-13-1?
A common citation format is "South Dakota Codified Laws § 55-13-1" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 55-13-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.