There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 55 FIDUCIARIES AND TRUSTS
Chapter 03. Express Trusts For Third-Party Beneficiaries
§55-3-11 Investment of money by trustee--Interest, simple or compound, on omission to invest trust moneys.
SD Codified L § 55-3-11 (through 2012) What's This?
55-3-11. Investment of money by trustee--Interest, simple or compound, on omission to invest trust moneys. A trustee must invest money received by him under the trust, as fast as he collects a sufficient amount, in such manner as to afford reasonable security and interest for the same.
If he fails so to do, he must pay simple interest thereon if such omission is merely negligent, and compound interest thereon if it is willful.
Source: SDC 1939, § 59.0207.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
