Section 59-7-3 - Actual knowledge of death or disability required to terminate agency as to personsacting in good faith--Binding effect of agent's actions.
59-7-3. Actual knowledge of death or disability required to terminate agency as to persons acting in good faith--Binding effect of agent's actions. The death, disability, or incompetence of a principal who has executed a power of attorney in writing other than a power described by §§ 59-7-2.1 to 59-7-2.4, inclusive, does not revoke or terminate the agency of an attorney in fact, an agent, or any other person, who, without actual knowledge of the death, disability, or incompetence of the principal, acts in good faith under the power of attorney or agency. Such action, unless otherwise invalid or unenforceable, binds the principal and his heirs, devisees and personal representatives.
Source: SL 1945, ch 181, § 1; SDC Supp 1960, § 3.0110; SL 1977, ch 418, § 5.