South Dakota § 55-10A-7 - Transfer by obligor.
Full text of South Dakota South Dakota Codified Laws § 55-10A-7 — Transfer by obligor., with citation guidance and answers to common questions.
§ 55-10A-7. Transfer by obligor.
Subject to subdivisions (1) and (2), any person not subject to § 55-10A-5 or 55-10A-6, who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to § 55-10A-9:
(1) If a person having the right to do so under § 55-10A-3, has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person; or
(2) If no custodian has been nominated under § 55-10A-3, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds ten thousand dollars in value.
Source: SL 1986, ch 409, § 7.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 55-10A-7
What does South Dakota Codified Laws § 55-10A-7 cover?
Section 55-10A-7 ("Transfer by obligor.") 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 § 55-10A-7?
A common citation format is "South Dakota Codified Laws § 55-10A-7" (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 § 55-10A-7 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.