South Dakota Statutes
§ 55-7-4 — Payment or transfer to fiduciary--Nonliability of transferor for improper application.
South Dakota § 55-7-4
JurisdictionSouth Dakota
Title 55FIDUCIARIES AND TRUSTS
Ch. 55-7THIRD-PARTY RESPONSIBILITY FOR FIDUCIARY ACTS
This text of South Dakota § 55-7-4 (Payment or transfer to fiduciary--Nonliability of transferor for improper application.) 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 § 55-7-4 (2026).
Text
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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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.
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 § 55-7-4, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/55-7-4.