LegalFix
Sign In

§ 55-4-14 Permitted sales between trusts held by same corporate trustee.

SD Codified L § 55-4-14 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

55-4-14. Permitted sales between trusts held by same corporate trustee. A corporate trustee may sell stocks, bonds and other securities listed on all exchange supervised by the securities and exchange commission as well as obligations of the U.S. treasury and obligations of U.S. government agencies held by it in one account to itself as trustee of another account if the transaction is fair to both accounts and if such transaction is not prohibited by the instruments creating the trustee relationships.

Source: SL 1943, ch 308, § 6; SDC Supp 1960, § 59.0506; SL 1979, ch 337.

Previous Section
§ 55-4-13 Trustee not to buy from or sell to self--Exception.
Next Section
§ 55-4-15 Corporate trustee buying its own stock.