South Dakota § 55-4-25 Tort liability of trust estate--Action against trustee, amount of recovery, intervention by beneficiary.

South Dakota Statutes

§ 55-4-25 — Tort liability of trust estate--Action against trustee, amount of recovery, intervention by beneficiary.

South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-4 UNIFORM TRUSTS ACT

Where a trustee or his predecessor has incurred personal liability for a tort committed in the course of his administration, the trustee in his representative capacity may be sued and collection had from the trust property, if the court shall determine in such action:

(1)that the tort was a common incident of the kind of business activity in which the trustee or his predecessor was properly engaged for the trust; or (2) that, although the tort was not a common incident of such activity, neither the trustee nor his predecessor, nor any officer or employee of the trustee or his predecessor, was guilty of personal fault in incurring the liability; or (3) that, although the tort did not fall within classes (1) or (2) above, it increased the value of the trust property. If the tort is

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Where a trustee or his predecessor has incurred personal liability for a tort committed in the course of his administration, the trustee in his representative capacity may be sued and collection had from the trust property, if the court shall determine in such action: (1) that the tort was a common incident of the kind of business activity in which the trustee or his predecessor was properly engaged for the trust; or (2) that, although the tort was not a common incident of such activity, neither the trustee nor his predecessor, nor any officer or employee of the trustee or his predecessor, was guilty of personal fault in incurring the liability; or (3) that, although the tort did not fall within classes (1) or (2) above, it increased the value of the trust property. If the tort is within classes (1) or (2) above, collection may be had of the full amount of damage proved; and if the tort is within class (3) above, collection may be had only to the extent of the increase in the value of the trust property. Any beneficiary may intervene in such action and contest the right of the plaintiff to recover.

South Dakota § 55-4-25 (Tort liability of trust estate--Action against trustee, amount of recovery, intervention by beneficiary.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.