2014 South Dakota Codified Laws
Title 55 - FIDUCIARIES AND TRUSTS
Chapter 04 - Uniform Trusts Act
§ 55-4-22 Exoneration or reimbursement of trustee for tort committed in administration oftrust.
55-4-22. Exoneration or reimbursement of trustee for tort committed in administration of trust. A trustee who has incurred personal liability for a tort committed in the administration of the trust is entitled to exoneration therefor from the trust property if he has not discharged the claim, or to be reimbursed therefor out of trust funds if he has paid the claim, if:
(1) the tort was a common incident of the kind of business activity in which the trustee was properly engaged for the trust, or
(2) although the tort was not a common incident of such activity, neither the trustee nor any officer or employee of the trustee was guilty of personal fault in incurring the liability.
Source: SL 1943, ch 308, § 13; SDC Supp 1960, § 59.0513 (1).
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.
