Statutes, codes, and regulations
South Dakota Codified Laws
Title 55 - FIDUCIARIES AND TRUSTS
Chapter 8 - REGISTRATION AND TRANSFER OF SECURITIES HELD BY FIDUCIARIES
Section 55-8-5 - Assignment of security by fiduciary-Assumption as to authority and capacity

S.D. Codified Laws § 55-8-5

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Current through the 2024 Legislative Session
Section 55-8-5 - Assignment of security by fiduciary-Assumption as to authority and capacity

Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties.

SDCL 55-8-5

SL 1961, ch 22, § 3 (1).