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§ 55-7-2 Definition of terms.

SD Codified L § 55-7-2 (2019) (N/A)
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55-7-2. Definition of terms. Terms used in §§ 55-7-2 to 55-7-15, inclusive, mean:

(1) "Bank," any person or association of persons, whether incorporated or not, carrying on the business of banking;

(2) "Fiduciary," any trustee under any trust, express, implied, resulting or constructive, personal representative, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;

(3) "Person," any corporation, limited liability company, partnership, or other association, or two or more persons having a joint or common interest; and

(4) "Principal," any person to whom a fiduciary as such owes an obligation.Source: SL 1943, ch 19, § 1; SDC Supp 1960, § 6.0701 (1); SL 1994, ch 351, § 154.

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