South Dakota § 51A-10-4 Deposits in trust for another.

South Dakota Statutes

§ 51A-10-4 — Deposits in trust for another.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-10 BANK DEPOSITS

Whenever any deposit is made in a bank by a person which in form is in trust for another, but no other or further notice of the existence and terms of a legal and valid trust is given in writing to the bank, in the event of the death of the trustee, the deposit or any part thereof, may be paid to the person for whom the deposit was made, together with the dividends or interest thereon, whether or not such person is a minor.

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Whenever any deposit is made in a bank by a person which in form is in trust for another, but no other or further notice of the existence and terms of a legal and valid trust is given in writing to the bank, in the event of the death of the trustee, the deposit or any part thereof, may be paid to the person for whom the deposit was made, together with the dividends or interest thereon, whether or not such person is a minor.

South Dakota § 51A-10-4 (Deposits in trust for another.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.