South Dakota § 47-14A-26 Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.

South Dakota Statutes

§ 47-14A-26 — Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.

South Dakota § 47-14A-26

Title 47CORPORATIONS

Ch. 47-14ASOUTH DAKOTA BUSINESS TRUST ACT

This text of South Dakota § 47-14A-26 (Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-14A-26 (2026).

Text

To the extent that, at law or in equity, a trustee has duties (including fiduciary duties) and liabilities relating thereto to a business trust or to a beneficial owner:

(1)Any such trustee acting under a governing instrument is not liable to the business trust or to any such beneficial owner for the trustee's good faith reliance on the provisions of such governing instrument; and (2) The trustee's duties and liabilities may be expanded or restricted by provisions in a governing instrument.

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To the extent that, at law or in equity, a trustee has duties (including fiduciary duties) and liabilities relating thereto to a business trust or to a beneficial owner: (1) Any such trustee acting under a governing instrument is not liable to the business trust or to any such beneficial owner for the trustee's good faith reliance on the provisions of such governing instrument; and (2) The trustee's duties and liabilities may be expanded or restricted by provisions in a governing instrument.