As used in § 47-16-33:

(1) “Proper person” means the registered owner or last prior transferee, whether or not described as fiduciary for another, or his authorized agent, legal representative, or successor to his interest by operation of law;

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(2) “Transfer” includes a redemption or recall of stock;

(3) “Wrongful transfer” means a transfer which is in excess of the authorization or capacity of the transferor, or which is made in breach of the transferor’s fiduciary duty.

Source: SDC 1939, § 11.1122 (2) as enacted by SL 1965, ch 23, § 1.