State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-01b > Statute-55-1b-4

55-1B-4. When trust advisor considered as fiduciary. If one or more trust advisors are given authority by the terms of a governing instrument to direct, consent to, or disapprove a fiduciary's investment decisions, or proposed investment decisions, such trust advisors shall be considered to be fiduciaries when exercising such authority unless the governing instrument provides otherwise.

Source: SL 1997, ch 280, § 4.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-01b > Statute-55-1b-4

55-1B-4. When trust advisor considered as fiduciary. If one or more trust advisors are given authority by the terms of a governing instrument to direct, consent to, or disapprove a fiduciary's investment decisions, or proposed investment decisions, such trust advisors shall be considered to be fiduciaries when exercising such authority unless the governing instrument provides otherwise.

Source: SL 1997, ch 280, § 4.