55-8-14. Liability of guarantor of signature of fiduciary.
If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this chapter incurs no liability.
Source: SL 1961, ch 22, ยง7 (2).
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 08 - Registration And Transfer Of Securities Held By Fiduciaries
Section 55-8-1 - Definition of terms.
Section 55-8-2 - Rights and duties of corporation and transfer agent--Law governing.
Section 55-8-3 - Application of chapter.
Section 55-8-4 - Registration of security in name of fiduciary.
Section 55-8-5 - Assignment of security by fiduciary--Assumption as to authority and capacity.
Section 55-8-11 - Liability of corporation or transfer agent for making or refusing transfer.
Section 55-8-12 - Nonliability of corporation or transfer agent for authorized acts.
Section 55-8-13 - Participation in breach of fiduciary duty--Nonliability of third persons.
Section 55-8-14 - Liability of guarantor of signature of fiduciary.
Section 55-8-16 - Tax obligations of corporation or transfer agent not affected by chapter.