Section 55-4-53 - Limitation of liability for acting in reliance on certificate of trust. - South-dakota Statutes

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55-4-53. Limitation of liability for acting in reliance on certificate of trust. Any person who acts in reliance on a certificate of trust without knowledge that the representations contained in the certification are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in the certification. Knowledge of the terms of the trust may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying on the certification.

Source: SL 2009, ch 252, § 26.

State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-04 > Statute-55-4-53

55-4-53. Limitation of liability for acting in reliance on certificate of trust. Any person who acts in reliance on a certificate of trust without knowledge that the representations contained in the certification are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in the certification. Knowledge of the terms of the trust may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying on the certification.

Source: SL 2009, ch 252, § 26.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-04 > Statute-55-4-53

55-4-53. Limitation of liability for acting in reliance on certificate of trust. Any person who acts in reliance on a certificate of trust without knowledge that the representations contained in the certification are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in the certification. Knowledge of the terms of the trust may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying on the certification.

Source: SL 2009, ch 252, § 26.