59-12-18. Acceptance of and reliance upon acknowledged power of attorney.
(1)For purposes of this section and §52-12-19, the term, South Dakota compliant, means a power of attorney signed by the principal and substantially in the form provided in §59-12-41 and acknowledged before a notary public or other individual authorized to take acknowledgements.
(2)A person that in good faith accepts a South Dakota compliant power of attorney without actual knowledge that the signature is not genuine may rely upon the power attorney as being valid.
(3)A person that in good faith accepts a South Dakota compliant power of attorney without actual knowledge that the power of attorney is void, invalid, or terminated; that the purported agent's authority is void, invalid, or terminated; or that the agent is exceeding or improperly exercising the agent's authority may rely upon the power of attorney as if the power of attorney were genuine, valid, and still in effect; the agent's authority were genuine, valid, and still in effect; and the agent had not exceeded and had properly exercised the authority.
(4)A person that is asked to accept a South Dakota compliant power of attorney may request, and rely upon, without further investigation:
(a)An agent's certification under penalty of perjury of any factual matter concerning the principal, agent, or power of attorney;
(b)An English translation of the power of attorney if the power of attorney contains, in whole or in part, language other than English; and
(c)An opinion of counsel as to any matter of law concerning the power of attorney if the person making the request provides in a writing or other record the reason for the request.
(5)An English translation or an opinion of counsel requested under this section shall be provided at the principal's expense unless the request is made more than ten business days after the power of attorney is presented for acceptance.
(6)For purposes of this section and §59-12-19, a person that conducts activities through employees is without actual knowledge of a fact relating to a power of attorney, a principal, or an agent if the employee conducting the transaction involving the power of attorney is without actual knowledge of the fact.
Source: SL 2020, ch 214, § 18.
Structure South Dakota Codified Laws
Chapter 12 - Uniform Power Of Attorney Act
Section 59-12-1 - Definitions.
Section 59-12-2 - Applicability.
Section 59-12-3 - Durable power of attorney.
Section 59-12-4 - Execution of power of attorney.
Section 59-12-5 - Validity of power of attorney.
Section 59-12-6 - Meaning and effect of power of attorney.
Section 59-12-8 - When power of attorney is effective.
Section 59-12-9 - Termination of power of attorney or agent's authority.
Section 59-12-10 - Coagents and successor agents.
Section 59-12-11 - Reimbursement and compensation of agent.
Section 59-12-12 - Agent's acceptance.
Section 59-12-13 - Agent's duties.
Section 59-12-14 - Exoneration of agent.
Section 59-12-15 - Judicial relief.
Section 59-12-16 - Agent's liability.
Section 59-12-17 - Agent's resignation--Notice.
Section 59-12-18 - Acceptance of and reliance upon acknowledged power of attorney.
Section 59-12-19 - Liability for refusal to accept acknowledged power of attorney.
Section 59-12-20 - Principles of law and equity.
Section 59-12-21 - Laws applicable to financial institutions and entities.
Section 59-12-22 - Remedies under other law.
Section 59-12-23 - Authority that requires specific grant--Grant of general authority.
Section 59-12-24 - Incorporation of authority.
Section 59-12-25 - Construction of authority generally.
Section 59-12-26 - Real property.
Section 59-12-27 - Tangible personal property.
Section 59-12-28 - Stocks and bonds.
Section 59-12-29 - Commodities and options.
Section 59-12-30 - Banks and other financial institutions.
Section 59-12-31 - Operation of entity or business.
Section 59-12-32 - Insurance and annuities.
Section 59-12-33 - Estates, trusts, and other beneficial interests.
Section 59-12-34 - Claims and litigation.
Section 59-12-35 - Personal and family maintenance.
Section 59-12-36 - Benefits from governmental programs or civil or military service.
Section 59-12-37 - Retirement plans.
Section 59-12-40 - Effect on existing powers of attorney.
Section 59-12-41 - Statutory form--Power of attorney.