55-13A-402. Distribution from trust or estate.A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, §55-13A-401 or 55-13A-415 applies to a receipt from the trust. Source: SL 2007, ch 282, §12.
South Dakota Legal Code