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South Dakota · Through 2026-08-31 · Newer source version available

SDCL § 55-2-12: Liability and duties of successor trustee for agreements, contracts or actions of predecessor fiduciary.

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Where this section sits in the code
  1. TITLE 55. FIDUCIARIES AND TRUSTS
  2. 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

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