S.D. Codified Laws § 55-3-7

Current through the 2024 Legislative Session

Section 55-3-7 - Trustee's power as agent

A trustee is a general agent for the trust and the trust property. The trustee's authority is the authority that is conferred upon the trustee by the declaration of trust and by this chapter and none other. The trustee's acts, within the scope of the trustee's authority, bind the trust and the trust property to the same extent as the acts of an agent bind the agent's principal.

SDCL 55-3-7

SDC 1939, § 59.0209; SL 2016, ch 231, §20.

Amended by S.L. 2016, ch. 231,s. 20, eff. 7/1/2016.