55-4-15. Corporate trustee buying its own stock.
No corporate trustee, unless expressly authorized by the trust instrument, may purchase for a trust shares of its own stock, or its bonds, or other securities, or the stock, bonds, or other securities of an affiliate.
Source: SL 1943, ch 308, §7; SDC Supp 1960, §59.0507; SL 2006, ch 243, §4.