S.D. Codified Laws § 55-1-45
This is the official text of S.D. Codified Laws § 55-1-45, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Limitation of action for fraudulent transfer of settlor's assets
Official statutory text
A cause of action or claim for relief with respect to a fraudulent transfer of a settlor's assets pursuant to § 55-1-44 is extinguished unless the action under § 55-1-44 is brought by a creditor of the settlor who meets one of the following requirements:
(1) Is a creditor of the settlor before the settlor's assets are transferred to the trust, and the action under § 55-1-44 is brought within the later of:
(a) Two years after the transfer is made; or
(b) Six months after the transfer is or reasonably could have been discovered by the creditor if the creditor:
(i) Can demonstrate that the creditor asserted a specific claim against the settlor before the transfer; or
(ii) Files another action, other than an action under § 55-1-44 , against the settlor that asserts a claim based on an act or omission of the settlor that occurred before the transfer, and the action described in this subsection is filed within two years after the transfer; or
(2) Becomes a creditor subsequent to the transfer into trust, and the action under § 55-1-44 is brought within two years after the transfer is made.
Source: SL 2011, ch 212, § 37; SL 2013, ch 239, § 23; SL 2020, ch 206, § 6.
(1) Is a creditor of the settlor before the settlor's assets are transferred to the trust, and the action under § 55-1-44 is brought within the later of:
(a) Two years after the transfer is made; or
(b) Six months after the transfer is or reasonably could have been discovered by the creditor if the creditor:
(i) Can demonstrate that the creditor asserted a specific claim against the settlor before the transfer; or
(ii) Files another action, other than an action under § 55-1-44 , against the settlor that asserts a claim based on an act or omission of the settlor that occurred before the transfer, and the action described in this subsection is filed within two years after the transfer; or
(2) Becomes a creditor subsequent to the transfer into trust, and the action under § 55-1-44 is brought within two years after the transfer is made.
Source: SL 2011, ch 212, § 37; SL 2013, ch 239, § 23; SL 2020, ch 206, § 6.
Status: in_force · Read it on the official government site
Need a lawyer in South Dakota?
Find a South Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.