SDCL § 51A-6A-63: Registering investments in name of nominee--Liability of trust company.

Any trust company, when acting in this state as a fiduciary or a co-fiduciary with others, may with the consent of its co-fiduciary or co-fiduciaries, if any, cause any investment held in any such capacity, to be registered and held in the name of a nominee or nominees of the trust company. The trust company is liable for the acts of any nominee with respect to any investment so registered.

Source: SL 1995, ch 268, § 61.