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S.D. Codified Laws § 55-2-12

Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary

Source: SL 1991, ch 229, § 2; SL 2021, ch 207, § 10.

Unless otherwise provided in the trust agreement, a successor trustee:

(1) Is not individually liable for actions or inactions of a predecessor fiduciary, including agreements, contracts accountings, records, distributions, investments, modifications, reformations, or other acts entered into by its predecessor fiduciary; and

(2) Does not have a duty to:

(a) Confirm or validate such predecessor fiduciary's actions or inactions;

(b) Confirm the validity of the trust agreement; or

(c) Prosecute or seek redress for any action or inaction by the predecessor fiduciary.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.