South Dakota Codified Laws 55-8-14. Liability of guarantor of signature of fiduciary
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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.
Terms Used In South Dakota Codified Laws 55-8-14
- Assignment: includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer. See South Dakota Codified Laws 55-8-1
- Corporation: means a private or public corporation, association or trust issuing a security. See South Dakota Codified Laws 55-8-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: means a personal representative, trustee, guardian, committee, conservator, curator, tutor, custodian, or nominee. See South Dakota Codified Laws 55-8-1
- Fiduciary: A trustee, executor, or administrator.
- Person: includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity. See South Dakota Codified Laws 55-8-1
- Transfer: means a change on the books of a corporation in the registered ownership of a security. See South Dakota Codified Laws 55-8-1
- Transfer agent: means a person employed or authorized by a corporation to transfer securities issued by the corporation. See South Dakota Codified Laws 55-8-1
Source: SL 1961, ch 22, § 7 (2).