51A-10-4. Deposits in trust for another.
Whenever any deposit is made in a bank by a person which in form is in trust for another, but no other or further notice of the existence and terms of a legal and valid trust is given in writing to the bank, in the event of the death of the trustee, the deposit or any part thereof, may be paid to the person for whom the deposit was made, together with the dividends or interest thereon, whether or not such person is a minor.
Source: SL 1969, ch 11, §8.5; SDCL, §51-22-6.
Structure South Dakota Codified Laws
Section 51A-10-1 - "Deposit" or "deposits" defined.
Section 51A-10-2 - Minors' accounts.
Section 51A-10-3 - Deposits in name of two or more persons.
Section 51A-10-4 - Deposits in trust for another.
Section 51A-10-7 - Duty of depositor to examine statement of account and vouchers.
Section 51A-10-8 - Misdemeanor to certify check where drawer's funds insufficient.
Section 51A-10-9 - Preferential deposits.
Section 51A-10-11 - Loans prohibited when reserve deficient.