Section 21-22-26 - Trustee's liability for failure to comply--Forfeiture of compensation--Trustee's actsnot invalidated. - South Dakota Statutes

21-22-26. Trustee's liability for failure to comply--Forfeiture of compensation--Trustee's acts not invalidated. Any trustee who fails or neglects to comply with the provisions of this chapter shall be subject to removal by the court and shall be liable to any beneficiary for all damages sustained by such beneficiary resulting from such noncompliance and shall also forfeit all right to compensation as such trustee during the period of such noncompliance unless it is shown to the satisfaction of the court fixing such compensation that such failure to comply was inadvertent and not intentional and was with reasonable excuse and that the trustee has performed his duties diligently, faithfully, and efficiently. Failure or neglect as to such compliance shall not invalidate any act of the trustee.

Source: Supreme Court Rule 250, 1939; SDC 1939 & Supp 1960, § 33.2614.