South Dakota Codified Laws 55-3-12. Purchase by trustee of claims against trust property
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A trustee cannot enforce any claim against the trust property which he purchases after or in contemplation of his appointment as trustee; but he may be allowed by any competent court to charge to the trust property what he has in good faith paid for the claim, upon discharging the same.
Terms Used In South Dakota Codified Laws 55-3-12
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Trustee: A person or institution holding and administering property in trust.
Source: SDC 1939, § 59.0208.