Section 55-7-2 - Definition of terms.
55-7-2. Definition of terms. Terms used in §§ 55-7-2 to 55-7-15, inclusive, mean:
(1) "Bank," any person or association of persons, whether incorporated or not, carrying on the business of banking;
(2) "Fiduciary," any trustee under any trust, express, implied, resulting or constructive, personal representative, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;
(3) "Person," any corporation, limited liability company, partnership, or other association, or two or more persons having a joint or common interest; and
(4) "Principal," any person to whom a fiduciary as such owes an obligation.
Source: SL 1943, ch 19, § 1; SDC Supp 1960, § 6.0701 (1); SL 1994, ch 351, § 154.