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Governor's Task Force on Trust Administration Review and Reform
The Task Force operates under the authority of Executive Order 2017-08. It is a body comprised of representatives from the trust industry, recognized as experts in their field and appointed by the Governor. This body has been assembled with the goal of establishing and maintaining South Dakota's stature as the premier trust jurisdiction in the United States. Members of the Task Force were instrumental in crafting South Dakota's Trust Company Act, South Dakota Codified Law (SDCL) 51A-6A, which helped establish South Dakota as a leader in the fiduciary services industry.
Members are appointed by the Governor to terms of three years. Responsibilities of the Task Force include reviewing and making recommendations for changing South Dakota's trust administration statutes. The primary goals of the Task Force are to provide the most efficient and effective environment for the administration of trusts, and to provide a timely response to ongoing innovation and evolution in fiduciary services. The Task Force meets periodically, and provides the Governor with an annual report detailing its recommendations, by November 1 each year.
The current chair of the Task Force is Carl Schmidtman. The full composition of the Task Force is available in an Adobe PDF file.
The following Executive Orders established and amended the Task Force's authority.
- Executive Order 97-10 - Establishes and Authorizes the Governor's Task Force on Trust Administration Review and Reform
- Executive Order 97-12 - Amends 97-10; Removes limitation on number of members
- Executive Order 97-17 - Amends 97-10; Removes report submission deadline
- Executive Order 2011-14 - Reconstituted the Trust Task Force and implemented three-year terms for members.
- Executive Order 2014-14 - Continued authorization of the Task Force
- Executive Order 2017-08 - Continued authorization of the Task Force
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