South Dakota § 55-7-2 - Definition of terms.
Full text of South Dakota South Dakota Codified Laws § 55-7-2 — Definition of terms., with citation guidance and answers to common questions.
§ 55-7-2. Definition of terms.
Terms used in §§ 55-7-2 to 55-7-15, inclusive, mean:
(1) "Bank," any person or association of persons, whether incorporated or not, carrying on the business of banking;
(2) "Fiduciary," any trustee under any trust, express, implied, resulting or constructive, personal representative, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;
(3) "Person," any corporation, limited liability company, partnership, or other association, or two or more persons having a joint or common interest; and
(4) "Principal," any person to whom a fiduciary as such owes an obligation.
Source: SL 1943, ch 19, § 1; SDC Supp 1960, § 6.0701 (1); SL 1994, ch 351, § 154.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 55-7-2
What does South Dakota Codified Laws § 55-7-2 cover?
Section 55-7-2 ("Definition of terms.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 55-7-2?
A common citation format is "South Dakota Codified Laws § 55-7-2" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 55-7-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.