State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-04 > Statute-55-4-10

55-4-10. Loan of trust funds. Except as provided in §§ 55-4-11 and 55-4-12, no corporate trustee shall lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate; nor shall any noncorporate trustee lend trust funds to himself, or to his relative, employer, employee, partner, or other business associate.

Source: SL 1943, ch 308, § 3; SDC Supp 1960, § 59.0503.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-04 > Statute-55-4-10

55-4-10. Loan of trust funds. Except as provided in §§ 55-4-11 and 55-4-12, no corporate trustee shall lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate; nor shall any noncorporate trustee lend trust funds to himself, or to his relative, employer, employee, partner, or other business associate.

Source: SL 1943, ch 308, § 3; SDC Supp 1960, § 59.0503.