S.D. Codified Laws § 55-1A-32.1
This is the official text of S.D. Codified Laws § 55-1A-32.1, 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.
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Trustee immunity from liability for failure to prosecute, defend, or continue to defend
Official statutory text
If the trustee fails to prosecute, defend, or continue to defend the trust or its assets because the conditions set forth in subdivision 55-1A-32(1) or (2) have not been fulfilled, the trustee is not liable for any such failure even if the failure, including without limitation a withdrawal from a proceeding, may result in the granting or awarding of relief against the trustee or the trust, including without limitation a distribution of trust assets in satisfaction of a claim.
For purposes of chapter 55-1A , the term, prosecute, or, defend or continue to defend, means:
(1) Instituting, participating in, intervening in or defending a lawsuit, action in equity or administrative, arbitration or mediation proceeding (collectively a proceeding); or
(2) Taking any other action to resist such claim.
This section and § 55-1A-32 control unless the governing instrument specifically provides otherwise.
Source: SL 2017, ch 204, § 14.
For purposes of chapter 55-1A , the term, prosecute, or, defend or continue to defend, means:
(1) Instituting, participating in, intervening in or defending a lawsuit, action in equity or administrative, arbitration or mediation proceeding (collectively a proceeding); or
(2) Taking any other action to resist such claim.
This section and § 55-1A-32 control unless the governing instrument specifically provides otherwise.
Source: SL 2017, ch 204, § 14.
Status: in_force · Read it on the official government site
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