South Dakota Statutes
§ 55-8-5 — Assignment of security by fiduciary--Assumption as to authority and capacity.
South Dakota·Title 55 FIDUCIARIES AND TRUSTS·Ch. 55-8 REGISTRATION AND TRANSFER OF SECURITIES HELD BY FIDUCIARIES
Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties.
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South Dakota § 55-8-5 (Assignment of security by fiduciary--Assumption as to authority and capacity.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1961, ch 22, § 3 (1).
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