Statutes, codes, and regulations
South Dakota Codified Laws
Title 55 - FIDUCIARIES AND TRUSTS
Chapter 7 - THIRD-PARTY RESPONSIBILITY FOR FIDUCIARY ACTS
Section 55-7-4 - Payment or transfer to fiduciary-Nonliability of transferor for improper application

S.D. Codified Laws § 55-7-4

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Current through the 2024 Legislative Session
Section 55-7-4 - Payment or transfer to fiduciary-Nonliability of transferor for improper application

A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.

SDCL 55-7-4

SL 1943, ch 19, § 2; SDC Supp 1960, § 6.0702.