If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this chapter incurs no liability.
S.D. Codified Laws § 55-8-14
Liability of guarantor of signature of fiduciary
Known as the Uniform Act
The act spans §§ 55–55 (18 sections).
Source: SL 1961, ch 22, § 7 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.