South Dakota Codified Laws
Chapter 07 - Third Party Responsibility For Fiduciary Acts
Section 55-7-3 - A thing done "in good faith" defined.

55-7-3. A thing done "in good faith" defined.
A thing is done "in good faith" within the meaning of §§55-7-2 to 55-7-15, inclusive, when it is in fact done honestly, whether it be done negligently or not.

Source: SL 1943, ch 19, §1; SDC Supp 1960, §6.0701 (2).

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 55 - Fiduciaries and Trusts

Chapter 07 - Third Party Responsibility For Fiduciary Acts

Section 55-7-1 - Liability of third persons dealing with trustees.

Section 55-7-2 - Definition of terms.

Section 55-7-3 - A thing done "in good faith" defined.

Section 55-7-4 - Payment or transfer to fiduciary--Nonliability of transferor for improper application.

Section 55-7-5 - Check or bill of exchange drawn by fiduciary payable to third person--Liability of payee.

Section 55-7-6 - Transfer of check or bill of exchange drawn by fiduciary who holds it as payee or transferee.

Section 55-7-7 - Bank account in name of fiduciary--Check drawn by fiduciary--Bank's liability to principal.

Section 55-7-8 - Bank account in name of principal--Check drawn by fiduciary--Bank's liability to principal.

Section 55-7-9 - Deposit in bank to fiduciary's personal account--Bank's liability to principal.

Section 55-7-10 - Deposit in bank in names of two or more trustees--Check drawn by one.

Section 55-7-12 - Law governing transactions not within Uniform Fiduciaries Act.

Section 55-7-13 - Act not retroactive.

Section 55-7-14 - Uniformity of interpretation.

Section 55-7-15 - Citation of uniform act.