South Dakota § 55-2-12 Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.

South Dakota Statutes

§ 55-2-12 — Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.

South Dakota § 55-2-12

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-2DUTIES AND LIABILITIES OF TRUSTEES

This text of South Dakota § 55-2-12 (Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.) 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 § 55-2-12 (2026).

Text

Unless otherwise provided in the trust agreement, a successor trustee:

(1)Is not individually liable for actions or inactions of a predecessor fiduciary, including agreements, contracts accountings, records, distributions, investments, modifications, reformations, or other acts entered into by its predecessor fiduciary; and (2) Does not have a duty to:

(a)Confirm or validate such predecessor fiduciary's actions or inactions;

(b)Confirm the validity of the trust agreement; or (c) Prosecute or seek redress for any action or inaction by the predecessor fiduciary.

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Unless otherwise provided in the trust agreement, a successor trustee: (1) Is not individually liable for actions or inactions of a predecessor fiduciary, including agreements, contracts accountings, records, distributions, investments, modifications, reformations, or other acts entered into by its predecessor fiduciary; and (2) Does not have a duty to: (a) Confirm or validate such predecessor fiduciary's actions or inactions; (b) Confirm the validity of the trust agreement; or (c) Prosecute or seek redress for any action or inaction by the predecessor fiduciary.