South Dakota Statutes
§ 55-7-1 — Liability of third persons dealing with trustees.
South Dakota § 55-7-1
JurisdictionSouth Dakota
Title 55FIDUCIARIES AND TRUSTS
Ch. 55-7THIRD-PARTY RESPONSIBILITY FOR FIDUCIARY ACTS
This text of South Dakota § 55-7-1 (Liability of third persons dealing with trustees.) 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 § 55-7-1 (2026).
Text
One who actually and in good faith transfers any money or other property to a trustee as such is not bound to see to the application thereof; and his rights can in no way be prejudiced by a misapplication thereof by the trustee. Other persons must at their peril see to the proper application of money or other property paid or delivered by them.
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Legislative History
SDC 1939, § 59.0117.
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 § 55-7-1, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/55-7-1.