South Dakota Codified Laws 55-4-23. Exoneration or reimbursement of trustee for tort–Increase in value of trustproperty
Current as of: 2023 | Check for updates
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If a trustee commits a tort which increases the value of the trust property, he shall be entitled to exoneration or reimbursement with respect thereto to the extent of such increase in value, even though he would not otherwise be entitled to exoneration or reimbursement.
Terms Used In South Dakota Codified Laws 55-4-23
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Source: SL 1943, ch 308, § 13; SDC Supp 1960, § 59.0513 (2).