South Dakota § 47-14A-26 - Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.
Full text of South Dakota South Dakota Codified Laws § 47-14A-26 — Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument., with citation guidance and answers to common questions.
§ 47-14A-26. Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.
To the extent that, at law or in equity, a trustee has duties (including fiduciary duties) and liabilities relating thereto to a business trust or to a beneficial owner:
(1) Any such trustee acting under a governing instrument is not liable to the business trust or to any such beneficial owner for the trustee's good faith reliance on the provisions of such governing instrument; and
(2) The trustee's duties and liabilities may be expanded or restricted by provisions in a governing instrument.
Source: SL 2001, ch 245, § 26.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 47-14A-26
What does South Dakota Codified Laws § 47-14A-26 cover?
Section 47-14A-26 ("Trustee acting in reliance on governing instrument not liable to trust or beneficial owner--Duties determined by governing instrument.") 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 § 47-14A-26?
A common citation format is "South Dakota Codified Laws § 47-14A-26" (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 § 47-14A-26 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.