South Dakota § 55-4-11 - Corporate trustee depositing trust funds with self--Interest.
Full text of South Dakota South Dakota Codified Laws § 55-4-11 — Corporate trustee depositing trust funds with self--Interest., with citation guidance and answers to common questions.
§ 55-4-11. Corporate trustee depositing trust funds with self--Interest.
A corporate trustee which is subject to regulation and supervision by state or federal authorities may deposit with itself trust funds which are being held necessarily pending investment, distribution, or the payment of debts, provided it pays into the trust for such deposit such interest as it is required by statute to pay on uninvested trust funds, or, if there be no such statute, the same rate of interest it pays upon similar nontrust deposits, and maintains in its trust department as security for all such deposits a separate fund consisting of securities legal for trust investments and at all times equal in total market value to the amount of the deposits. But no such security shall be required to the extent that the deposit is insured or given a preference by any state or federal law.
Source: SL 1943, ch 308, § 4; SDC Supp 1960, § 59.0504 (1).
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 55-4-11
What does South Dakota Codified Laws § 55-4-11 cover?
Section 55-4-11 ("Corporate trustee depositing trust funds with self--Interest.") 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 § 55-4-11?
A common citation format is "South Dakota Codified Laws § 55-4-11" (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 § 55-4-11 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.