There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-10A-13 — Validity and effect of transfer.
55-10A-13. Validity and effect of transfer. The validity of a transfer made in a manner prescribed in this chapter is not affected by:
(1) Failure of the transferor to comply
with § 55-10A-11 concerning possession and
control;
(2) Designation of an ineligible
custodian, except designation of the transferor in the case of
property for which the transferor is ineligible to serve as
custodian under § 55-10A-9; or
(3) Death or incapacity of a person
nominated under § 55-10A-3, or designated under
§ 55- 10A-9, as custodian or the disclaimer of the office
by that person.
A transfer
made pursuant to § 55-10A-9, is irrevocable, and the
custodial property is indefeasibly vested in the minor, but the
custodian has all the rights, powers, duties and authority provided
in this chapter and neither the minor nor the minor's legal
representative has any right, power, duty or authority with respect
to the custodial property except as provided in this
chapter.
By making a
transfer, the transferor incorporates in the disposition all the
provisions of this chapter and grants to the custodian, and to any
third person dealing with a person designated as custodian, the
respective powers, rights and immunities provided in this
chapter.
Source: SL 1986, ch 409, § 13.
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