There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 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).
Source: SL 1943, ch 308, § 13; SDC Supp 1960, § 59.0513 (1).
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