South Dakota Codified Laws 55-1A-18. Insurance
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A trustee may insure the assets of his trust against damage or loss, and the trustee against liability to third persons.
Terms Used In South Dakota Codified Laws 55-1A-18
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Third persons: includes all who are not parties to the obligation or transaction concerning which the phrase is used. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1979, ch 336, § 18.