55-3-39 When state law or jurisdiction provision valid, effective, and conclusive.
When state law or jurisdiction provision valid, effective, and conclusive.
expressly provided by the terms of a governing instrument or by a court order, a general law or a
state jurisdiction provision stating that the laws of this state govern is valid, effective, and conclusive
for the trust if all of the following are true:
Some or all of the trust assets are deposited in this state or physical evidence of such
assets is held in this state and the trust is being administered by a qualified person; in this
subdivision, deposited in this state, includes being held in a checking account, time
deposit, certificate of deposit, brokerage account, trust company fiduciary account, or
other similar account or deposit that is located in this state including South Dakota
A trustee is a qualified person who is designated as a trustee under the governing
instrument, a successor trusteeship, or designated by a court having jurisdiction over the
The administration, for example, physically maintaining trust records in this state and
preparing or arranging for the preparation of, on an exclusive basis or a nonexclusive
basis, an income tax return that must be filed by the trust, occurs wholly or partly in this
The State of South Dakota and its courts have jurisdiction over a trust created in a foreign
jurisdiction if the administration of the trust meets the three requirements set forth in this section.
Nothing in this section may be construed to be the exclusive means of providing a valid effective
and conclusive state jurisdiction provision.
Source: SL 1998, ch 282, § 20; SL 2004, ch 312, § 6; SL 2010, ch 232, § 3.