A trustee is a general agent for the trust and the trust property. The trustee’s authority is the authority that is conferred upon the trustee by the declaration of trust and by this chapter and none other. The trustee’s acts, within the scope of the trustee’s authority, bind the trust and the trust property to the same extent as the acts of an agent bind the agent’s principal.

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Source: SDC 1939, § 59.0209; SL 2016, ch 231, § 20.