Trust property is not subject to the personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
S.D. Codified Laws § 55-1-29
Trust property not subject to personal obligations of trustee
Applied in 1 court decision — leading case DFA Dairy Financing Services, L.P. v. Lawson Special Trust (2010)
Most recently applied in DFA Dairy Financing Services, L.P. v. Lawson Special Trust (April 2010)
Source: SL 2007, ch 280, § 6.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.