A trustee owning corporate stock may vote it by proxy, but shall be liable for any loss resulting to the beneficiaries from a failure to use reasonable care in deciding how to vote the stock and in voting it.
S.D. Codified Laws § 55-4-6
Voting of corporate stock owned by trustee
Known as the Uniform Trusts Act
The act spans §§ 55–55 (57 sections).
Source: SL 1943, ch 308, § 8; SDC Supp 1960, § 59.0508.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.