2011 South Dakota Code
Title 55 FIDUCIARIES AND TRUSTS
Chapter 07. Third-Party Responsibility For Fiduciary Acts
§55-7-2 Definition of terms.
55-7-2. Definition of terms. Terms used in §§ 55-7-2 to 55-7-15, inclusive, mean:
(1) "Bank," any person or association of persons, whether incorporated or not, carrying on the business of banking;
(2) "Fiduciary," any trustee under any trust, express, implied, resulting or constructive, personal representative, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;
(3) "Person," any corporation, limited liability company, partnership, or other association, or two or more persons having a joint or common interest; and
(4) "Principal," any person to whom a fiduciary as such owes an obligation.
Source: SL 1943, ch 19, § 1; SDC Supp 1960, § 6.0701 (1); SL 1994, ch 351, § 154.
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.
