South Dakota Statutes
§ 55-4-7 — Creation of trust--Bank account to pay special debts.
South Dakota § 55-4-7
This text of South Dakota § 55-4-7 (Creation of trust--Bank account to pay special debts.) 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 § 55-4-7 (2026).
Text
Whenever a bank account shall, by entries made on the books of the depositor and the bank at the time of the deposit, be created exclusively for the purpose of paying dividends, interest or interest coupons, salaries, wages, or pensions or other benefits to employees, and the depositor at the time of opening such account does not expressly otherwise declare, the depositor shall be deemed a trustee of such account for the creditors to be paid therefrom, subject to such power of revocation as the depositor may have reserved by agreement with the bank.
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Legislative History
SL 1943, ch 308, § 2; SDC Supp 1960, § 59.0502 (1).
Nearby Sections
15
§ 55-1-2
Trusts classified.§ 55-1-20
Trusts for noncharitable purposes.§ 55-1-21.1
Termination of trust for care of animal.§ 55-1-21.11
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Bluebook (online)
South Dakota § 55-4-7, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/55-4-7.