There is a newer version of the South Dakota Codified Laws
2014 South Dakota Codified Laws
Title 55 - FIDUCIARIES AND TRUSTS
Chapter 01 - Classification And Creation Of Trusts
§ 55-1-9 Implied trust created by transfer of property in violation of trust.
SD Codified L § 55-1-9 (2014) What's This?
55-1-9. Implied trust created by transfer of property in violation of trust. Everyone to whom property is transferred in violation of a trust holds the same as an implied trustee under such trust, unless he purchased it in good faith and for a valuable consideration.
Source: SDC 1939, § 59.0102 (3).
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