South Dakota § 15-2-36 Actions for breach of trust against qualified persons.

South Dakota Statutes

§ 15-2-36 — Actions for breach of trust against qualified persons.

South Dakota·Title 15 CIVIL PROCEDURE·Ch. 15-1 LIMITATION OF ACTIONS GENERALLY

If § 21-22-30 or 55-3-45 do not apply, absent fraud, intentional misrepresentation, or material omission, an action to recover for breach of trust against a qualified person as defined in § 55-3-41 or an officer, director, or employee of a qualified person may be commenced only within two years of a trustee's accounting for the period of the breach pursuant to chapter 55-3 . In the case of fraud, intentional misrepresentation, or material omission, the limitation period does not commence to run until discovery of the breach of trust.

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If § 21-22-30 or 55-3-45 do not apply, absent fraud, intentional misrepresentation, or material omission, an action to recover for breach of trust against a qualified person as defined in § 55-3-41 or an officer, director, or employee of a qualified person may be commenced only within two years of a trustee's accounting for the period of the breach pursuant to chapter 55-3 . In the case of fraud, intentional misrepresentation, or material omission, the limitation period does not commence to run until discovery of the breach of trust.

South Dakota § 15-2-36 (Actions for breach of trust against qualified persons.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.