There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 29A-5-411 — Powers of conservator.
29A-5-411. Powers of conservator. A conservator, in managing the estate, shall act as a fiduciary and in the best interests of the minor or protected person and shall, in addition, have the following powers, which may be exercised without prior court authorization except as otherwise provided:
(1) To invest and reinvest the funds of
the estate in accordance with the standard of prudence as specified
in chapter 55-5;
(2) To collect, hold, and retain assets of
the estate, including land in another state, and to receive
additions to the estate;
(3) To continue or participate in the
operation of any unincorporated business or other
enterprise;
(4) To deposit estate funds in a state or
federally insured financial institution, including one operated by
the conservator;
(5) To manage, control, convey, divide,
exchange, partition, and sell at public or private sale, for cash
or for credit, the real and personal property of the
estate;
(6) To grant an option to dispose of any
asset and to take an option to acquire any asset, and to complete a
contract entered into by a protected person, including a contract
to convey or purchase real or personal property;
(7) To enter into or renew a lease as
lessor or lessee with or without option to purchase, including
leases for real and personal property and leases and other
arrangements for exploration and removal of minerals or other
natural resources, and even though the lease or other arrangement
may extend beyond the term of the conservatorship;
(8) To borrow money and to place, renew or
extend an encumbrance upon any property, real or personal,
including the power to borrow from a financial institution operated
by the conservator;
(9) To abandon property if, in the opinion
of the conservator, it is valueless or is so encumbered or in such
condition that it is of no benefit to the estate;
(10) To make ordinary or extraordinary
repairs or alterations in buildings or other property and to grant
easements for public or private use, or both, with or without
consideration;
(11) To vote a security, either personally
or by general or limited proxy and to consent to the
reorganization, consolidation, merger, dissolution, or liquidation
of a corporation or other enterprise;
(12) To sell or exercise stock
subscription or conversion rights and to pay calls, assessments,
and any other sums chargeable or accruing against or on account of
securities;
(13) To hold a security in the name of a
nominee or in other form without disclosure of the conservatorship,
so that title to the security may pass by delivery, but the
conservator is liable for any act of the nominee in connection with
a security so held;
(14) To insure the assets of the estate
against damage or loss, and the guardian and conservator against
liability with respect to third persons;
(15) To allow, pay, reject, contest, or
settle any claim by or against the estate or protected person by
compromise or otherwise and to release, in whole or in part, any
claim belonging to the estate to the extent it is
uncollectible;
(16) To pay taxes, assessments, and other
expenses incurred in the collection, care, and administration of
the estate;
(17) To pay any sum distributable for the
benefit of the minor, the protected person, or legal dependent by
paying the sum directly to the distributee, to the provider of
goods and services, to any individual or facility that is
responsible for or has assumed responsibility for care and custody,
to a distributee's custodian under a Uniform Gifts or Transfers Act
of any applicable jurisdiction, or by paying the sum to the
guardian of the minor or protected person or, in the case of a
dependent, to the dependent's guardian or conservator;
(18) To employ persons, including
attorneys, accountants, investment advisors, or agents; to act upon
their recommendations without independent investigation; to
delegate to them any power, whether ministerial or discretionary;
and to pay them reasonable compensation;
(19) To maintain life, health, casualty,
and liability insurance for the benefit of the minor, the protected
person, or legal dependents;
(20) To manage the estate following the
termination of the conservatorship and until its delivery to the
minor, the protected person, or successors in interest;
and
(21) To execute and deliver all
instruments and to take all other actions that will accomplish or
facilitate the exercise of the powers conferred by this
chapter.
Source: SL 1993, ch 213, § 54; SDCL 30-36-54; SL 1995, ch 167, § 181.
Source: SL 1993, ch 213, § 54; SDCL 30-36-54; SL 1995, ch 167, § 181.
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