Section 10-41-62 - Time of accrual of tax on contingent or conditional transfer.
10-41-62. Time of accrual of tax on contingent or conditional transfer. Taxes upon any devise, bequest, legacy, or gift, limited, conditioned, dependent, or determinable upon the happening of any contingency or future event by reason of which the full and true value thereof cannot be ascertained when or before the taxes become due and payable as provided in § 10-41-61, shall accrue and become due and payable when the person or corporation becomes beneficially entitled in possession or expectancy thereto.
Source: SL 1915, ch 217, § 5; RC 1919, § 6834; SDC 1939, § 57.2501.