SB 69 South Dakota Senate · 2025 Regular Session

revise provisions related to trusts.

SB 69 proposes revisions to the provisions governing trusts in South Dakota law. The bill directly affects individuals who create trusts, trustees who manage them, and beneficiaries who receive assets from them. Key mechanisms include updating specific language within the state's trust statutes to clarify how trusts are established, administered, and terminated. These changes aim to modernize the legal framework surrounding trusts without altering their fundamental purpose. The bill focuses on technical updates to existing regulations rather than introducing new trust types or tax provisions.

Bill status signed all 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Jan 2025

House Passage

Mar 2025

Signed into Law

Mar 2025

Introduced Jan 28, 2025 Signed Mar 31, 2025

Maddy AI version diff · 3 comparisons

What changed between versions

House Engrossed → Enrolled · 6 edits · Mar 5, 2025

MODERATE

This bill revises the definitions and liability protections in South Dakota's trust laws to clarify roles and responsibilities for various trust-related advisors and fiduciaries. The changes expand the legal framework to better distinguish between different types of advisors (investment, distribution, tax) and establish clearer liability protections for excluded fiduciaries.

Scope change

The bill expands the scope of the trust chapter by adding new definitions for 'trust advisor,' 'trust protector,' 'family advisor,' and 'excluded fiduciary,' and clarifies when these roles act in a fiduciary capacity.

DEFINITION

Added new definitions for 'trust advisor,' 'trust protector,' 'family advisor,' and 'excluded fiduciary' to clarify roles and responsibilities in trust management.

Modified the definition of 'fiduciary' to explicitly include trust advisors, trust protectors, and trust committees when acting in a fiduciary capacity.

Added specific definition for 'tax trust advisor' to clarify their role in exercising tax powers within trust instruments.

Added definition for 'custodial account' to include various retirement and savings vehicles permitted under the Internal Revenue Code.

Added definition for 'family advisor' to recognize persons authorized to consult with or advise fiduciaries on trust matters.

ENFORCEMENT

Added liability protections for excluded fiduciaries, shielding them from individual or fiduciary liability for certain actions.

Floor votes · Senate Mar 4, 2025 · House Feb 27, 2025

How they voted

35–0

Passed

Total votes 35

Mar 4, 2025

D Democratic3

3 Yea

100% Yea

R Republican32

32 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 31, 2025

Signed into law

Signed by the Governor on 2025-03-31 S.J. 538

executive

Mar 6, 2025

Lower · Passed

Signed by the Speaker H.J. 488

lower

Mar 5, 2025

Lower · Passed

Signed by the President S.J. 455

lower

Mar 4, 2025

Lower · Passed

Senate Concurred in amendments , Passed, YEAS 35, NAYS 0 S.J. 433

lower

Feb 27, 2025

Lower · Passed

House of Representatives Do Pass Amended , Passed, YEAS 65, NAYS 4 H.J. 428

lower

Feb 27, 2025

Introduced

House of Representatives Motion to amend , Passed, H.J. 427 Amendment 69B

lower

Feb 27, 2025

House · Passed

House Vote: pass (65-3-1)

house

Feb 26, 2025

Lower · Passed

Judiciary Do Pass , Passed, YEAS 12, NAYS 0

lower

Jan 28, 2025

Introduced

First read in House and referred to H.J. 134

lower

Jan 27, 2025

Upper · Passed

Senate Do Pass Amended , Passed, YEAS 34, NAYS 0 S.J. 102

upper

Jan 23, 2025

Upper · Passed

Certified uncontested, placed on consent , Passed,

upper

Jan 23, 2025

Upper · Passed

Commerce and Energy Do Pass Amended , Passed, YEAS 9, NAYS 0

upper

Jan 23, 2025

Introduced

Commerce and Energy Motion to amend , Passed, Amendment 69A

upper

Jan 17, 2025

Committee

Referred to S.J. 58

upper

8 primary · 0 co-sponsors