§ 29A-5-411 — Powers of conservator.

South Dakota § 29A-5-411

• Jurisdiction: South Dakota
• Title 29A: UNIFORM PROBATE CODE
• Ch. 29A-4: SOUTH DAKOTA GUARDIANSHIP AND CONSERVATORSHIP ACT

Text

A conservator, in managing the estate, shall act as a fiduciary and in the best interests of the minor or protected person and shall, in addition, have the following powers, which may be exercised without prior court authorization except as otherwise provided: (1) To invest and reinvest the funds of the estate in accordance with the standard of prudence as specified in chapter 55-5 ; (2) To collect, hold, and retain assets of the estate, including land in another state, and to receive additions to the estate; (3) To continue or participate in the operation of any unincorporated business or other enterprise; (4) To deposit estate funds in a state or federally insured financial institution, including one operated by the conservator; (5) To manage, control, convey, divide, exchange, partition, and sell at public or private sale, for cash or for credit, the real and personal property of the estate; (6) To grant an option to dispose of any asset and to take an option to acquire any asset, and to complete a contract entered into by a protected person, including a contract to convey or purchase real or personal property; (7) To enter into or renew a lease as lessor or lessee with or without option to purchase, including leases for real and personal property and leases and other arrangements for exploration and removal of minerals or other natural resources, and even though the lease or other arrangement may extend beyond the term of the conservatorship; (8) To borrow money and to place, renew, or extend an encumbrance upon any property, real or personal, including the power to borrow from a financial institution operated by the conservator; (9) To abandon property if, in the opinion of the conservator, it is valueless or is so encumbered or in such condition that it is of no benefit to the estate; (10) To make ordinary or extraordinary repairs or alterations in buildings or other property and to grant easements for public or private use, or both, with or without consideration; (11) To vote a security, either personally or by general or limited proxy and to consent to the reorganization, consolidation, merger, dissolution, or liquidation of a corporation or other enterprise; (12) To sell or exercise stock subscription or conversion rights and to pay calls, assessments, and any other sums chargeable or accruing against or on account of securities; (13) To hold a security in the name of a nominee or in other form without disclosure of the conservatorship, so that title to the security may pass by delivery, but the conservator is liable for any act of the nominee in connection with a security so held; (14) To insure the assets of the estate against damage or loss, and the guardian and conservator against liability with respect to third persons; (15) To allow, pay, reject, contest, or settle any claim by or against the estate or protected person by compromise or otherwise and to release, in whole or in part, any claim belonging to the estate to the extent it is uncollectible; (16) To pay taxes, assessments, and other expenses incurred in the collection, care, and administration of the estate; (17) To pay any sum distributable for the benefit of the minor, the protected person, or legal dependent by paying the sum directly to the distributee, to the provider of goods and services, to any individual or facility that is responsible for or has assumed responsibility for care and custody, to a distributee's custodian under a Uniform Gifts or Transfers Act of any applicable jurisdiction, or by paying the sum to the guardian of the minor or protected person or, in the case of a dependent, to the dependent's guardian or conservator; (18) To employ persons, including attorneys, accountants, investment advisors, or agents; to act upon their recommendations without independent investigation; to delegate to them any power, whether ministerial or discretionary; and to pay them reasonable compensation; (19) To maintain life, health, casualty, and liability insurance for the benefit of the minor, the protected person, or legal dependents; (20) To manage the estate following the termination of the conservatorship and until its delivery to the minor, the protected person, or successors in interest; (21) To execute and deliver all instruments and to take all other actions that will accomplish or facilitate the exercise of the powers conferred by this chapter; and (22) To act as a representative pursuant to subdivision 55-18-9(1).

Legislative History

SL 1993, ch 213, § 54; SDCL § 30-36-54; SL 1995, ch 167, § 181; SL 2017, ch 208, § 28.