Section 55-2-10 – Measure of liability for unauthorized use or disposal of trust property–Intent to serve interest of beneficiary.

55-2-10. Measure of liability for unauthorized use or disposal of trust property–Intent to serve interest of beneficiary.

A trustee who uses or disposes of the trust property in any manner not authorized by the trust but in good faith and with intent to serve the interest of the beneficiary is liable only to make good whatever is lost to the beneficiary by his error.

Source: SDC 1939, §59.0115.