South Dakota Statutes
§ 55-7-4 — Payment or transfer to fiduciary--Nonliability of transferor for improper application.
A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
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South Dakota § 55-7-4 (Payment or transfer to fiduciary--Nonliability of transferor for improper application.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Smith v. Halverson
273 N.W.2d 146 (South Dakota Supreme Court, 1978)
Legislative History
SL 1943, ch 19, § 2; SDC Supp 1960, § 6.0702.
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