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S.D. Codified Laws § 55-3-11

Investment of money by trustee--Interest, simple or compound, on omission to invest trust moneys

Source: SDC 1939, § 59.0207.

A trustee must invest money received by him under the trust, as fast as he collects a sufficient amount, in such manner as to afford reasonable security and interest for the same.

If he fails so to do, he must pay simple interest thereon if such omission is merely negligent, and compound interest thereon if it is willful.

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