S.D. Codified Laws § 51A-5-5

Current through the 2024 Legislative Session

Section 51A-5-5 - Deposit available for satisfaction of claims upon liquidation, abandonment of trust powers, or resignation from fiduciary positions

Upon liquidation, abandonment of trust powers, or resignation from all fiduciary positions, the deposit shall be made available for the reasonable satisfaction of claims involving fiduciary accounts. Any surplus remaining after the satisfaction of all such claims shall be returned to the bank or trust company.

SDCL 51A-5-5

SL 1969, ch 11, § 5.3; SDCL, § 51-19-4; SL 1995, ch 268, § 66.