55-15-9. Administration of total return unitrust--Authority of trustee.In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:(1)The effective date of the conversion;(2)The timing of distributions during the year, if any, including provisions for prorating distributions for a short year when the effective date of a conversion takes place during the year;(3)Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;(4)If the trust is reconverted to an income trust, the effective date of such reconversion; and(5)Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter. Source: SL 2002, ch 225, §9; SL 2023, ch 161, §14.
South Dakota Legal Code