Section 55-8-7 - Assignment of security by fiduciary--Corporation or transfer agent not charged withnotice of records or documents. - South Dakota Statutes

55-8-7. Assignment of security by fiduciary--Corporation or transfer agent not charged with notice of records or documents. Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession.

Source: SL 1961, ch 22, § 3 (3).