reglab/housing_qa huggingface dataset:
SD Codified L § 55-7-3 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-3 - A thing done "in good faith" defined.

55-7-3. A thing done "in good faith" defined.A thing is done "in good faith" within the meaning of §§55-7-2 to 55-7-15, inclusive, when it is in fact done honestly, whether it be done negligently or not. Source: SL 1943, ch 19, §1; SDC Supp 1960, §6.0701 (2).
SD Codified L § 55-7-4 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-4 - Payment or transfer to fiduciary--Nonliability of transferor for improper application.

55-7-4. Payment or transfer to fiduciary--Nonliability of transferor for improper application.A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary. Source: SL 1943, ch 19, §2; SDC Supp 1960, §6.0702.
SD Codified L § 55-7-5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-5 - Check or bill of exchange drawn by fiduciary payable to third person--Liability of payee.

55-7-5. Check or bill of exchange drawn by fiduciary payable to third person--Liability of payee.If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, the payee is not bound to inquire whether the fiduciary is committing a breach of his obligation as fiduciary in drawing or delivering the instrument, and is not chargeable with notice that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the instrument with actual knowledge of such breach or with knowledge of such facts that his action in taking the instrument amounts to bad faith. If, however, such instrument is payable to a personal creditor of the fiduciary and delivered to the creditor in payment of or as security for a personal debt of the fiduciary to the actual knowledge of the creditor, or is drawn and delivered in any transaction known by the payee to be for the personal benefit of the fiduciary, the creditor or other payee is liable to the principal if the fiduciary in fact commits a breach of his obligation as fiduciary in drawing or delivering the instrument. Source: SL 1943, ch 19, §5; SDC Supp 1960, §6.0705.
SD Codified L § 55-7-6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-6 - Transfer of check or bill of exchange drawn by fiduciary who holds it as payee or transferee.

55-7-6. Transfer of check or bill of exchange drawn by fiduciary who holds it as payee or transferee.If a check or other bill of exchange is drawn by a fiduciary as such or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, payable to the fiduciary personally, or payable to a third person and by him transferred to the fiduciary, and is thereafter transferred by the fiduciary, whether in payment of a personal debt of the fiduciary or otherwise, the transferee is not bound to inquire whether the fiduciary is committing a breach of his obligation as fiduciary in transferring the instrument, and is not chargeable with notice that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the instrument with actual knowledge of such breach or with knowledge of such facts that his action in taking the instrument amounts to bad faith. Source: SL 1943, ch 19, §6; SDC Supp 1960, §6.0706.
SD Codified L § 55-7-7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-7 - Bank account in name of fiduciary--Check drawn by fiduciary--Bank's liability to principal.

55-7-7. Bank account in name of fiduciary--Check drawn by fiduciary--Bank's liability to principal.If a deposit is made in a bank to the credit of a fiduciary as such, the bank is authorized to pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which such deposit is entered, without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith. If, however, such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of his obligation as fiduciary in drawing or delivering the check. Source: SL 1943, ch 19, §7; SDC Supp 1960, §6.0707.
SD Codified L § 55-7-8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-8 - Bank account in name of principal--Check drawn by fiduciary--Bank's liability to principal.

55-7-8. Bank account in name of principal--Check drawn by fiduciary--Bank's liability to principal.If a check is drawn upon the account of his principal in a bank by a fiduciary who is empowered to draw checks upon his principal's account, the bank is authorized to pay such check without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in drawing such check, or with knowledge of such facts that its action in paying the check amounts to bad faith. If, however, such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of its obligation as fiduciary in drawing or delivering the check. Source: SL 1943, ch 19, §8; SDC Supp 1960, §6.0708.
SD Codified L § 55-7-9 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-9 - Deposit in bank to fiduciary's personal account--Bank's liability to principal.

55-7-9. Deposit in bank to fiduciary's personal account--Bank's liability to principal.If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by him upon an account in his own name as fiduciary, or of checks payable to him as fiduciary, or of checks drawn by him upon an account in the name of his principal if he is empowered to draw checks thereon, or of checks payable to his principal and endorsed by him, if he is empowered to endorse such checks, or if he otherwise makes a deposit of funds held by him as fiduciary, the bank receiving such deposit is not bound to inquire whether the fiduciary is committing thereby a breach of his obligation as fiduciary; and the bank is authorized to pay the amount of the deposit or any part thereof upon the personal check of the fiduciary without being liable to the principal, unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in making such deposit or in drawing such check, or with knowledge of such facts that its action in receiving the deposit or paying the check amounts to bad faith. Source: SL 1943, ch 19, §9; SDC Supp 1960, §6.0709.
SD Codified L § 55-7-10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-10 - Deposit in bank in names of two or more trustees--Check drawn by one.

55-7-10. Deposit in bank in names of two or more trustees--Check drawn by one.When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize such trustee or trustees to draw checks upon the trust account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith. Source: SL 1943, ch 19, §10; SDC Supp 1960, §6.0710.
SD Codified L § 55-7-12 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-12 - Law governing transactions not within Uniform Fiduciaries Act.

55-7-12. Law governing transactions not within Uniform Fiduciaries Act.In any case not provided for in §§55-7-2 to 55-7-15, inclusive, the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to apply. Source: SL 1943, ch 19, §12; SDC Supp 1960, §6.0712.
SD Codified L § 55-7-13 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-13 - Act not retroactive.

55-7-13. Act not retroactive.The provisions of §§55-7-2 to 55-7-15, inclusive, shall not apply to transactions taking place prior to July 1, 1943. Source: SL 1943, ch 19, §11; SDC Supp 1960, §6.0711.
SD Codified L § 55-7-14 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-14 - Uniformity of interpretation.

55-7-14. Uniformity of interpretation.Sections 55-7-2 to 55-7-15, inclusive, shall be so interpreted and construed as to effectuate their general purpose to make uniform the law of those states which enact them. Source: SL 1943, ch 19, §13; SDC Supp 1960, §6.0713.
SD Codified L § 55-7-15 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 07 - Third Party Responsibility For Fiduciary Acts|Section 55-7-15 - Citation of uniform act.

55-7-15. Citation of uniform act.Sections 55-7-2 to 55-7-15, inclusive, may be cited as the Uniform Fiduciaries Act. Source: SL 1943, ch 19, §14; SDC Supp 1960, §6.0714.
SD Codified L § 55-8-1 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-1 - Definition of terms.

55-8-1. Definition of terms.In this chapter, unless the context otherwise requires:(1)"Assignment" includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer.(2)"Claim of beneficial interest" includes a claim of any interest by a decedent's legatee, distributee, heir, or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on his behalf, and includes a claim that the transfer would be in breach of fiduciary duties.(3)"Corporation" means a private or public corporation, association or trust issuing a security.(4)"Fiduciary" means a personal representative, trustee, guardian, committee, conservator, curator, tutor, custodian, or nominee.(5)"Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity.(6)"Security" includes any share of stock, bond, debenture, note, or other security issued by a corporation which is registered as to ownership on the books of the corporation.(7)"Transfer" means a change on the books of a corporation in the registered ownership of a security.(8)"Transfer agent" means a person employed or authorized by a corporation to transfer securities issued by the corporation. Source: SL 1961, ch 22, §1.
SD Codified L § 55-8-2 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-2 - Rights and duties of corporation and transfer agent--Law governing.

55-8-2. Rights and duties of corporation and transfer agent--Law governing.The rights and duties of a corporation and its transfer agent in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized. Source: SL 1961, ch 22, §8 (1).
SD Codified L § 55-8-3 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-3 - Application of chapter.

55-8-3. Application of chapter.This chapter applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with such a transaction. Source: SL 1961, ch 22, §8 (2).
SD Codified L § 55-8-4 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-4 - Registration of security in name of fiduciary.

55-8-4. Registration of security in name of fiduciary.A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and thereafter the corporation and its transfer agent may assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as such with respect to the particular security. Source: SL 1961, ch 22, §2.
SD Codified L § 55-8-5 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-5 - Assignment of security by fiduciary--Assumption as to authority and capacity.

55-8-5. Assignment of security by fiduciary--Assumption as to authority and capacity.Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties. Source: SL 1961, ch 22, §3 (1).
SD Codified L § 55-8-6 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-6 - Assignment of security by fiduciary--Compliance with controlling instrument and law governing fiduciary relationship assumed.

55-8-6. Assignment of security by fiduciary--Compliance with controlling instrument and law governing fiduciary relationship assumed.Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary may assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer. Source: SL 1961, ch 22, §3 (2).
SD Codified L § 55-8-7 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-7 - Assignment of security by fiduciary--Corporation or transfer agent not charged with notice of records or documents.

55-8-7. Assignment of security by fiduciary--Corporation or transfer agent not charged with notice of records or documents.Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession. Source: SL 1961, ch 22, §3 (3).
SD Codified L § 55-8-8 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-8 - Assignment of security by fiduciary not the registered owner--Evidence of appointment or incumbency.

55-8-8. Assignment of security by fiduciary not the registered owner--Evidence of appointment or incumbency.A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumbency:(1)In the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of that court or an officer thereof and dated within sixty days before the transfer; or(2)In any other case, a copy of a document showing the appointment or a certificate issued by or on behalf of a person reasonably believed by the corporation or transfer agent to be responsible or, in the absence of such a document or certificate, other evidence reasonably deemed by the corporation or transfer agent to be appropriate. Corporations and transfer agents may adopt standards with respect to evidence of appointment or incumbency under this subdivision provided such standards are not manifestly unreasonable. Neither the corporation nor transfer agent is charged with notice of the contents of any document obtained pursuant to this subdivision (2) except to the extent that the contents relate directly to the appointment or incumbency. Source: SL 1961, ch 22, §4.
SD Codified L § 55-8-9 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-9 - Claim of beneficial interest adverse to transfer of security--Written notice to corporation or transfer agent, contents.

55-8-9. Claim of beneficial interest adverse to transfer of security--Written notice to corporation or transfer agent, contents.A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, the registered owner, and the issue of which the security is a part, provides an address for communications directed to the claimant and is received before the transfer. Source: SL 1961, ch 22, §5 (1).
SD Codified L § 55-8-10 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-10 - Claim of beneficial interest adverse to transfer of security--Notice of presentment to claimant--Restraining order.

55-8-10. Claim of beneficial interest adverse to transfer of security--Notice of presentment to claimant--Restraining order.As soon as practicable after the presentation of a security for transfer pursuant to an assignment by a fiduciary, a corporation or transfer agent which has received notice of a claim of beneficial interest adverse to the transfer may send notice of the presentation by registered or certified mail to the claimant at the address given by him. If the corporation or transfer agent so mails such a notice it shall withhold the transfer for thirty days after the mailing and shall then make the transfer unless restrained by a court order. Source: SL 1961, ch 22, §5 (2).
SD Codified L § 55-8-11 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-11 - Liability of corporation or transfer agent for making or refusing transfer.

55-8-11. Liability of corporation or transfer agent for making or refusing transfer.Nothing in this chapter relieves the corporation or transfer agent of any liability for making or refusing to make the transfer after it is put on notice pursuant to §55-8-9, unless it proceeds in the manner authorized in §55-8-10. Source: SL 1961, ch 22, §5 (1).
SD Codified L § 55-8-12 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-12 - Nonliability of corporation or transfer agent for authorized acts.

55-8-12. Nonliability of corporation or transfer agent for authorized acts.A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by this chapter. Source: SL 1961, ch 22, §6.
SD Codified L § 55-8-13 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-13 - Participation in breach of fiduciary duty--Nonliability of third persons.

55-8-13. Participation in breach of fiduciary duty--Nonliability of third persons.No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves a breach unless it is shown that he acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty. Source: SL 1961, ch 22, §7 (1).
SD Codified L § 55-8-14 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-14 - Liability of guarantor of signature of fiduciary.

55-8-14. Liability of guarantor of signature of fiduciary.If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this chapter incurs no liability. Source: SL 1961, ch 22, §7 (2).
SD Codified L § 55-8-15 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-15 - Corporation and transfer agent not liable for breach of fiduciary duty or on guarantee of fiduciary's signature.

55-8-15. Corporation and transfer agent not liable for breach of fiduciary duty or on guarantee of fiduciary's signature.Sections 55-8-13 and 55-8-14 do not impose any liability upon the corporation or its transfer agent. Source: SL 1961, ch 22, §7 (3).
SD Codified L § 55-8-16 (2021)
2021 South Dakota Codified Laws|Title 55 - Fiduciaries and Trusts|Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries|Section 55-8-16 - Tax obligations of corporation or transfer agent not affected by chapter.

55-8-16. Tax obligations of corporation or transfer agent not affected by chapter.This chapter does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession, or other taxes imposed by the laws of this state. Source: SL 1961, ch 22, §9.