SDCL § 55-2-12: Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.
Where this section sits in the code
- TITLE 55. FIDUCIARIES AND TRUSTS
- CHAPTER 55-2. DUTIES AND LIABILITIES OF TRUSTEES
Unless otherwise provided in the trust agreement, a successor trustee:
(1) Is not individually liable for actions or inactions of a predecessor fiduciary, including agreements, contracts accountings, records, distributions, investments, modifications, reformations, or other acts entered into by its predecessor fiduciary; and
(2) Does not have a duty to:
(a) Confirm or validate such predecessor fiduciary's actions or inactions;
(b) Confirm the validity of the trust agreement; or
(c) Prosecute or seek redress for any action or inaction by the predecessor fiduciary.
Collected 2026-09-03T15:18:57Z. Source file · JSON