Section 55-5-16 - Delegation of responsibilities to others. - South Dakota Statutes

55-5-16. Delegation of responsibilities to others. A trustee has a duty to personally perform the responsibilities of the trusteeship except as a prudent person might delegate those responsibilities to others. In deciding whether, to whom, and in what manner to delegate fiduciary authority in the administration of a trust, and thereafter in monitoring agents, the trustee may seek the prior approval for the delegation from all known beneficiaries of the trust or from the court. If such approval is given in writing by all known beneficiaries or by the court, the trustee is not liable for the acts of the person to whom the authority is delegated except in the cases of gross misconduct or gross negligence by the delegating trustee in the selection or monitoring of the agent.

Source: SL 1996, ch 284, § 3; SL 1998, ch 282, § 42.