CHAPTER 15-2
LIMITATION OF ACTIONS GENERALLY
15-2-1 Commencement of civil actions limited by prescribed periods--Manner of objecting to commencement.
15-2-2 Application of limitations to actions by or for state--Exceptions.
15-2-3 Cause of action based on fraud accruing on discovery or notice.
15-2-4 Accrual of cause of action on open account.
15-2-5 Accrual of cause of action for mortgage foreclosure.
15-2-5.1 Limitation of action to challenge validity on nonjudicial foreclosure of real property mortgage.
15-2-6 Actions on state judgments and sealed instruments.
15-2-7 Actions to foreclose real estate mortgages.
15-2-8 Judgment of federal or foreign court--Mentally ill person's support--Abstracter's bond--Relief not otherwise provided for.
15-2-9 15-2-9 to 15-2-12. Repealed by SL 1985, ch 156, § 10
15-2-12.1 15-2-12.1. Repealed by SL 1985, ch 157, § 2
15-2-12.2 Product liability actions--Prospective application.
15-2-13 Contract obligation or liability--Statutory liability--Trespass--Personal property--Injury to noncontract rights--Fraud--Setting aside corporate instrument.
15-2-14 Action against sheriff, coroner, or constable--Action for statutory penalty or forfeiture--Action for personal injury.
15-2-14.1 Time for bringing medical malpractice actions--Counterclaims--Prospective application.
15-2-14.2 Time for bringing legal malpractice actions--Prospective application.
15-2-14.3 Time for bringing action against professional corporation--Corporate character and status unaffected.
15-2-14.4 Time for bringing action against licensed public accountant.
15-2-14.5 Time for bringing action against veterinarian--Counterclaims.
15-2-14.6 Time for bringing action against real estate licensees, agents, and employees--Prospective application.
15-2-14.7 Time for bringing action against firm of real estate broker, agent, or employee--Prospective application.
15-2-14.8 Time for bringing action against certain professional corporations and professional practitioners for acts or omissions occurring prior to January 1, 1980.
15-2-15 Actions for libel, slander, assault, battery, or false imprisonment--Actions for statutory forfeitures or penalties--Actions concerning wages.
15-2-15.1 15-2-15.1. Repealed by SL 1976, ch 145, § 4
15-2-15.2 Time for bringing action under federal civil rights statutes.
15-2-16 Limitation of actions for recovery of municipal funds unlawfully expended.
15-2-17 Actions for escape of prisoner arrested on civil process--Statutory forfeiture or penalty--Petty offense.
15-2-18 Actions on instruments circulated as money not limited by provisions.
15-2-19 Actions against bank directors, shareholders, agents, or employees.
15-2-20 Tolling of statute during absence of defendant from state--Real estate mortgage foreclosure actions excepted.
15-2-21 Running of statute against enemy alien during war.
15-2-22 Tolling of statute during disability--Maximum period of extension--Actions excepted.
15-2-22.1 15-2-22.1. Repealed by SL 2008, ch 103, § 1.
15-2-23 Disability to have existed when right of action accrued.
15-2-24 Coexisting disabilities.
15-2-25 Tolling of statute during injunction or statutory prohibition.
15-2-26 15-2-26, 15-2-27. Repealed by SL 1995, ch 167, §§ 93, 94
15-2-28 Mortgage presumed paid after fifteen years--Tolling provisions not applicable.
15-2-29 Writing required for acknowledgment or promise to take case out of operation of chapter.
15-2-30 Commencement of action by service of summons--Summons on codefendant.
15-2-31 Attempted commencement of action by delivery of summons to sheriff--Publication or service following attempt.
15-2-32 New action after reversal of judgment on appeal.
15-2-33 Dismissal without prejudice subject to plaintiff's right to satisfy earlier judgment involving same parties.
15-2-34 Action for recovery of damages against regional airport authority--Commencement.
15-2-35 Action against real estate appraiser or employee for malpractice, error, mistake, or omission.
15-2-36 Actions for breach of trust against qualified persons.
15-2-1. Commencement of civil actions limited by prescribed periods--Manner of objecting to commencement.
Civil actions can only be commenced within the periods prescribed in this title after the cause of action shall have accrued except where in special cases a different limitation is prescribed by statute. The objection that the action was not commenced within the time limited can only be taken by answer or other responsive pleading.
Source: SDC 1939 & Supp 1960, § 33.0201.
15-2-2. Application of limitations to actions by or for state--Exceptions.
The limitations prescribed in this chapter and chapter 15-3 shall apply to actions brought in the name of the state, or for its benefit, in the same manner as to actions by private parties, unless otherwise specifically prescribed by law. However, no statute of limitation or repose may apply against the state or other governmental entity seeking to recover damages from any person who has failed to warn the state or other governmental entity of known defects in any product provided by him to the state or other governmental entity or to a contractor on behalf of the state or other governmental entity.
Source: SDC 1939 & Supp 1960, § 33.0237; SL 1988, ch 174, § 1.
15-2-3. Cause of action based on fraud accruing on discovery or notice.
In an action for relief on the ground of fraud the cause of action shall not be deemed to have accrued until the aggrieved party discovers, or has actual or constructive notice of, the facts constituting the fraud.
Source: SDC 1939 & Supp 1960, § 33.0235; SL 1961, ch 178.
15-2-4. Accrual of cause of action on open account.
In an action brought to recover a balance due upon a mutual, open, and current account where there have been reciprocal demands between the parties, the cause of action shall be deemed to have accrued from the time of the last item proved in the account on either side.
Source: SDC 1939 & Supp 1960, § 33.0236.
15-2-5. Accrual of cause of action for mortgage foreclosure.
For the purposes of this chapter a cause of action for the foreclosure of a mortgage shall be deemed to have accrued at the last date of the maturity of the debt or other obligation secured thereby, as stated in, or as ascertainable from the record of such mortgage or in an extension thereof duly executed and recorded, and if no date for any maturity be stated therein or be ascertainable therefrom then after fifteen years from the date of said mortgage.
Source: SDC 1939 & Supp 1960, § 33.0233.
15-2-5.1. Limitation of action to challenge validity on nonjudicial foreclosure of real property mortgage.
An action to challenge the validity of proceedings for the nonjudicial foreclosure of a mortgage on real property, or an action to challenge the validity of a title derived from such proceedings, may be commenced only within one year from the date the sheriff's certificate of sale was recorded in the office of the register of deeds of the county or counties where the affected real property is situated.
Source: SL 1982, ch 166.
15-2-6. Actions on state judgments and sealed instruments.
Except where, in special cases, a different limitation is prescribed by statute, the following civil actions other than for the recovery of real property can be commenced only within twenty years after the cause of action shall have accrued:
(1) An action upon a judgment or decree of any court of this state;
(2) An action upon a sealed instrument, except a real estate mortgage.
Source: SDC 1939, § 33.0232 (1); SL 1945, ch 144; SL 1949, ch 128, § 1.
15-2-7. Actions to foreclose real estate mortgages.
Except where, in special cases, a different limitation is prescribed by statute, a civil action for the foreclosure of any real estate mortgage by action or by advertisement can be commenced only within fifteen years after the cause of action shall have accrued, and said period of fifteen years shall not be extended by nonresidence, legal disability, partial payment, or any new promise; provided, however, that the term "new promise" shall not be deemed to embrace an extension of a mortgage duly executed and recorded as contemplated by § 15-2-5. This section shall apply to all real estate mortgages, both those heretofore executed and those hereafter executed.
Source: SDC 1939, § 33.0232 (2); SL 1945, ch 144; SL 1961, ch 177, §§ 1, 3; SL 1965, ch 160.
15-2-8. Judgment of federal or foreign court--Mentally ill person's support--Abstracter's bond--Relief not otherwise provided for.
Except where, in special cases, a different limitation is prescribed by statute, the following civil actions other than for the recovery of real property can be commenced only within ten years after the cause of action shall have accrued:
(1) An action upon a judgment or decree of any court of the United States, or any state or territory other than this state within the United States;
(2) Actions by any county in this state to recover from any person legally bound for the support of a mentally ill person at the hospital for the mentally ill;
(3) An action upon an abstracter's bond given pursuant to the provisions and requirements of chapter 36-13. Cause of action on bond shall be deemed to accrue on date of certificate in which error, deficiency, or mistake occurred;
(4) An action for relief not otherwise provided for.
Source: SDC 1939, § 33.0232 (3); SL 1945, ch 144; SL 1947, ch 153, § 1.
15-2-12.2. Product liability actions--Prospective application.
An action against a manufacturer, lessor, or seller of a product, regardless of the substantive legal theory upon which the action is brought, for or on account of personal injury, death, or property damage caused by or resulting from the manufacture, construction, design, formula, installation, inspection, preparation, assembly, testing, packaging, labeling, or sale of any product or failure to warn or protect against a danger or hazard in the use, misuse, or unintended use of any product, or the failure to provide proper instructions for the use of any product may be commenced only within three years of the date when the personal injury, death, or property damage occurred, became known or should have become known to the injured party.
This section is prospective in application.
Source: SL 1985, ch 157, § 1.
15-2-13. Contract obligation or liability--Statutory liability--Trespass--Personal property--Injury to noncontract rights--Fraud--Setting aside corporate instrument.
Except where, in special cases, a different limitation is prescribed by statute, the following civil actions other than for the recovery of real property can be commenced only within six years after the cause of action shall have accrued:
(1) An action upon a contract, obligation, or liability, express or implied, excepting those mentioned in §§ 15-2-6 to 15-2-8, inclusive, and subdivisions 15-2-15(3) and (4);
(2) An action upon a liability created by statute other than a penalty or forfeiture; excepting those mentioned in subdivisions 15-2-15(3) and (4);
(3) An action for trespass upon real property;
(4) An action for taking, detaining, or injuring any goods or chattels, including actions for specific recovery of personal property;
(5) An action for criminal conversation or for any other injury to the rights of another not arising on contract and not otherwise specifically enumerated in §§ 15-2-6 to 15-2-17, inclusive;
(6) An action for relief on the ground of fraud, in cases which heretofore were solely cognizable by the court of chancery;
(7) An action to set aside any instrument executed in the name of a corporation on the ground that the corporate charter had expired at the time of the execution of such instrument.
Source: SDC 1939, § 33.0232 (4); SL 1941, ch 151; SL 1945, ch 144; SL 1945, ch 145, § 1; SL 1947, ch 153, § 2; SL 1953, ch 198, § 1.
15-2-14. Action against sheriff, coroner, or constable--Action for statutory penalty or forfeiture--Action for personal injury.
Except where, in special cases, a different limitation is prescribed by statute, the following civil actions other than for the recovery of real property can be commenced only within three years after the cause of action shall have accrued:
(1) An action against a sheriff, coroner, or constable upon a liability incurred by the doing of an act in his official capacity and in virtue of his office, or by the omission of an official duty, including the nonpayment of money collected upon an execution. But this subdivision shall not apply to an action for an escape;
(2) An action upon a statute for a penalty or forfeiture where the action is given to the party aggrieved, or to such party and the state except where the statute imposing it prescribes a different limitation;
(3) An action for personal injury.
Source: SDC 1939, § 33.0232 (5); SL 1945, ch 144.
15-2-14.1. Time for bringing medical malpractice actions--Counterclaims--Prospective application.
An action against a physician, surgeon, dentist, hospital, sanitarium, registered nurse, licensed practical nurse, chiropractor, or other practitioner of the healing arts for malpractice, error, mistake, or failure to cure, whether based upon contract or tort, can be commenced only within two years after the alleged malpractice, error, mistake, or failure to cure shall have occurred, provided, a counterclaim may be pleaded as a defense to any action for services brought by a physician, surgeon, dentist, hospital, sanitarium, registered nurse, licensed practical nurse, chiropractor, or other practitioner of the healing arts after the limitation herein prescribed, notwithstanding it is barred by the provisions of this chapter, if it was the property of the party pleading it at the time it became barred and was not barred at the time the claim was sued or originated, but no judgment thereon except for costs can be rendered in favor of the party so pleading it.
This section shall be prospective in application only.
Source: SDC 1939, § 33.0232 (6); SL 1945, ch 144; SL 1947, ch 153, § 3; SL 1963, ch 224; SDCL, § 15-2-15 (3); SL 1976, ch 145, §§ 1, 2; SL 1977, ch 168.
15-2-14.2. Time for bringing legal malpractice actions--Prospective application.
An action against a licensed attorney, his agent or employee, for malpractice, error, mistake, or omission, whether based upon contract or tort, can be commenced only within three years after the alleged malpractice, error, mistake, or omission shall have occurred. This section shall be prospective in application.
Source: SL 1977, ch 170.
15-2-14.3. Time for bringing action against professional corporation--Corporate character and status unaffected.
Any action against any professional corporation or professional limited liability company organized under chapter 47-11, 47-11A, 47-11B, 47-11C, 47-12, 47-13, 47-13A, or 47-13B can only be brought within the time and in the manner prescribed by the statute of limitations applicable to such action if it were commenced against a stockholder of such corporation as an individual. This section does not affect the corporate character and status of any professional corporation now or hereafter organized under the chapters herein mentioned, but that, as to such professional corporations, the limitation of actions applicable to the corporation are the same as that applicable to the individual professionals who are stockholders of the corporation.
Source: SL 1979, ch 146; SL 1994, ch 351, § 31.
15-2-14.4. Time for bringing action against licensed public accountant.
Any action against a licensed public accountant or the accountant's agent or employee, for malpractice, error, mistake, or omission, whether based on contract or tort, may be commenced only within three years after the alleged malpractice, error, mistake or omission has occurred unless the Department of Revenue or Internal Revenue Service conducts an audit, or issues a notice of intent to conduct an audit, in which case the action shall be commenced within four years. This section is prospective in application.
Source: SL 1987, ch 153; SL 1996, ch 141; SL 2003, ch 272 (Ex. Ord. 03-1), § 82; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011.
15-2-14.5. Time for bringing action against veterinarian--Counterclaims.
An action against a veterinarian or any member of a veterinarian's staff for malpractice, error, mistake, or failure to cure, whether based upon contract or tort, may be commenced only within three years after the alleged malpractice, error, mistake, or failure to cure has occurred. However, the provisions of this section do not prohibit any counterclaim for malpractice, error, mistake, or failure to cure, as a defense to any action for services brought by a veterinarian.
Source: SL 2001, ch 100, § 1.
15-2-14.6. Time for bringing action against real estate licensees, agents, and employees--Prospective application.
No action may be brought against a licensed real estate broker, broker associate, or salesperson, or any agent or employee thereof, for malpractice, error, mistake, or omission, whether based upon contract or tort, unless it is commenced within three years of the occurrence of the alleged malpractice, error, mistake, or omission. This section is prospective in application.
Source: SL 2004, ch 140, § 1.
15-2-14.7. Time for bringing action against firm of real estate broker, agent, or employee--Prospective application.
No action may be brought against a licensed partnership, association, limited liability company, or corporation of a real estate broker, or any agent or employee thereof, for malpractice, error, mistake, or omission, whether based upon contract or tort, unless it is commenced within three years of the occurrence of the alleged malpractice, error, mistake, or omission. This section is prospective in application.
Source: SL 2004, ch 140, § 2.
15-2-14.8. Time for bringing action against certain professional corporations and professional practitioners for acts or omissions occurring prior to January 1, 1980.
No action may be brought after July 1, 2006, against any professional corporation formed pursuant to chapter 47-11, 47-11A, 47-11B, 47-11C, 47-11D, 47-11E, 47-12, 47-13, 47-13A, or 47-13B, or any shareholder of such corporation, or against any person individually engaged as one of the following professionals: physicians, chiropractors, optometrists, podiatrists, physician assistants, nurses, dentists, veterinarians, lawyers, and public accountants, for any act or omission that occurred prior to January 1, 1980.
Source: SL 2005, ch 116, § 1.
15-2-15. Actions for libel, slander, assault, battery, or false imprisonment--Actions for statutory forfeitures or penalties--Actions concerning wages.
Except where, in special cases, a different limitation is prescribed by statute, the following civil actions other than for the recovery of real property can be commenced only within two years after the cause of action shall have accrued:
(1) An action for libel, slander, assault, battery, or false imprisonment;
(2) An action upon a statute for a forfeiture or penalty to the state;
(3) An action for wages regulated by either state or federal statute or for a penalty or liquidated damages for failure to pay wages regulated by either such state or federal statute;
(4) An action for wages or for a liability or penalty for failure to pay wages in accordance with the provisions of any contract or statute.
Source: SDC 1939, § 33.0232 (6); SL 1945, ch 144; SL 1947, ch 153, § 3; SL 1963, ch 224; SL 1976, ch 145, § 4.
15-2-15.2. Time for bringing action under federal civil rights statutes.
Any action brought under the federal civil rights statutes may be commenced only within three years after the alleged constitutional deprivation has occurred. This section is prospective in application.
Source: SL 1983, ch 155, § 1; SL 1986, ch 158.
15-2-16. Limitation of actions for recovery of municipal funds unlawfully expended.
Any action to recover into the treasury of any municipality within this state funds illegally expended by any governing body or public official thereof, must, notwithstanding any other law or statute of limitation, be commenced within two years from the date of publication of the minutes recording the approval of the voucher in payment thereof or within such period of time after actual payment is made therefor, whichever of the two events occurs the later; but, this limitation for commencement of civil action shall not apply where there is fraud or deceit on the part of such governing body or official.
Source: SL 1957, ch 259; SDC Supp 1960, § 33.0238.
15-2-17. Actions for escape of prisoner arrested on civil process--Statutory forfeiture or penalty--Petty offense.
Except where, in special cases, a different limitation is prescribed by statute, the following civil actions other than for the recovery of real property can be commenced only within one year after the cause of action shall have accrued:
(1) An action against a sheriff or other officer for the escape of a prisoner arrested or imprisoned on civil process;
(2) An action upon a statute for a penalty or a forfeiture given in whole or in part to any person who will prosecute the same; but if such action be not commenced within such year by a private person, it may be commenced within two years thereafter in behalf of the state by the state's attorney where the offense was committed;
(3) An action against a person for the violation of a statute, which violation is a petty offense.
Source: SDC 1939, § 33.0232 (7); SL 1945, ch 144; SL 1945, ch 145, § 2; SL 1947, ch 153, § 4; SL 1978, ch 165, § 1.
15-2-18. Actions on instruments circulated as money not limited by provisions.
This chapter does not affect actions to enforce the payment of bills, notes, or other evidence of debt issued by moneyed corporations, or issued or put in circulation as money.
Source: SDC 1939 & Supp 1960, § 33.0211.
15-2-19. Actions against bank directors, shareholders, agents, or employees.
No action may be brought against a director, shareholder, or an agent or employee of a bank or bank holding company, for any error, mistake, or omission, whether based on contract or tort, unless it is commenced within three years of the occurrence of the alleged error, mistake, or omission. For purposes of this section the term, bank, or, bank holding company, includes state banks as defined in Title 51A, national banks organized pursuant to 12 U.S.C. § 21 as amended as of January 1, 2008, and federal savings associations organized pursuant to 12 U. S.C. § 1464 as amended as of January 1, 2008.
Source: SDC 1939 & Supp 1960, § 33.0212; SL 2008, ch 252, § 45.
15-2-20. Tolling of statute during absence of defendant from state--Real estate mortgage foreclosure actions excepted.
If when the cause of action shall accrue against any person he shall be out of the state, such action may be commenced within the terms herein respectively limited after the return of such person into this state; and if after such cause of action shall have accrued, such person shall depart from and reside out of the state, the time of his absence shall not be deemed or taken as any part of the time limited for the commencement of such action; provided that the provisions of this section shall not apply to an action for the foreclosure of any real estate mortgage, or to the foreclosure of any real estate mortgage by advertisement.
Source: SDC 1939, § 33.0203; SL 1949, ch 127, § 1.
15-2-21. Running of statute against enemy alien during war.
When a person shall be an alien subject, or a citizen of a country at war with the United States, the time of the continuance of the war is part of the period limited for the commencement of the action.
Source: SDC 1939 & Supp 1960, § 33.0206.
15-2-22. Tolling of statute during disability--Maximum period of extension--Actions excepted.
If a person entitled to bring an action other than for the recovery of real property, except for a penalty or forfeiture, or against a sheriff or other officer for an escape, was at the time the cause of action accrued, either:
(1) Within the age of minority as defined in chapter 26-1; or
(2) Mentally ill;
the time of the person's disability is not a part of the time limited for the commencement of the action.
The period within which the action shall be brought cannot be extended more than five years by any disability except infancy, nor can it be extended in any case longer than one year after the disability ceases.
The provisions of this section do not apply to actions for the foreclosure of any real estate mortgage, either by action or by advertisement.
Source: SDC 1939 & Supp 1960, § 33.0204; SL 1976, ch 145, § 3; SL 1983, ch 155, § 2; SL 1988, ch 175.
15-2-23. Disability to have existed when right of action accrued.
No person can avail himself of a disability unless it existed when his right of action accrued.
Source: SDC 1939 & Supp 1960, § 33.0209.
15-2-24. Coexisting disabilities.
When two or more disabilities coexist at the time the right of action accrues, the limitation does not attach until they are all removed.
Source: SDC 1939 & Supp 1960, § 33.0210.
15-2-25. Tolling of statute during injunction or statutory prohibition.
When the commencement of an action is stayed by injunction or statutory prohibition, the time of the continuance of the injunction or prohibition is not part of the time limited for the commencement of the action.
Source: SDC 1939 & Supp 1960, § 33.0208.
15-2-28. Mortgage presumed paid after fifteen years--Tolling provisions not applicable.
At the expiration of fifteen years from the date the cause of action accrues on any mortgage as provided in § 15-2-5, such mortgage shall be conclusively presumed to have been paid and the mortgage and the record thereof shall cease to be notice of the mortgage as unpaid and the lien thereof shall then cease absolutely, and said period of fifteen years shall not be extended by nonresidence, legal disability, or partial payment.
Source: SDC 1939, § 33.0234; SL 1949, ch 129, § 1.
15-2-29. Writing required for acknowledgment or promise to take case out of operation of chapter.
No acknowledgment or promise is sufficient evidence of a new or continuing contract, whereby to take the case out of the operation of this chapter, unless the same be contained in some writing signed by the party to be charged thereby; but this section shall not alter the effect of any payment of principal or interest.
Source: SDC 1939 & Supp 1960, § 33.0213.
15-2-30. Commencement of action by service of summons--Summons on codefendant.
An action is commenced as to each defendant when the summons is served on him, or on a codefendant who is a joint contractor or otherwise united in interest with him.
Source: SDC 1939 & Supp 1960, § 33.0202.
15-2-31. Attempted commencement of action by delivery of summons to sheriff--Publication or service following attempt.
An attempt to commence an action is deemed equivalent to the commencement thereof when the summons is delivered, with the intent that it shall be actually served, to the sheriff or other officer of the county in which the defendants or one of them, usually or last resided; or if a corporation be defendant, to the sheriff or other officer of the county in which such corporation was established by law, or where its general business was transacted, or where it kept an office for the transaction of business. Such an attempt must be followed by the first publication of the summons, or the service thereof, within sixty days.
Source: SDC 1939 & Supp 1960, § 33.0202.
15-2-32. New action after reversal of judgment on appeal.
If an action be commenced within the time prescribed therefor and a judgment therein be reversed on appeal, the plaintiff or, if he die and the cause of action survive, his heirs or representatives, may commence a new action within one year after the reversal.
Source: SDC 1939 & Supp 1960, § 33.0207.
15-2-33. Dismissal without prejudice subject to plaintiff's right to satisfy earlier judgment involving same parties.
If a plaintiff in a civil action has not satisfied a judgment for expenses, attorney's fees, or both, entered in a prior civil case involving substantially the same parties brought in the circuit where the present action is pending, and the court, in support of the judgment, made a finding, pursuant to § 15-17-51, that the proceeding was frivolous or brought for a malicious purpose, the plaintiff may be dismissed from the action without prejudice, subject to the right of the plaintiff to recommence the action upon filing of a satisfaction of the judgment.
Source: SL 1995, ch 113.
15-2-34. Action for recovery of damages against regional airport authority--Commencement.
Any action to recover damages for personal injury or death caused by the negligence of a regional airport authority, created pursuant to § 50-6A-2, may only be commenced within two years of the alleged negligence.
This section is prospective in application.
Source: SL 1998, ch 277, § 1.
15-2-35. Action against real estate appraiser or employee for malpractice, error, mistake, or omission.
No action may be brought against a licensed real estate appraiser, or any agent or employee thereof, for malpractice, error, mistake, or omission, whether based upon contract or tort, unless it is commenced within three years of the occurrence of the alleged malpractice, error, mistake, or omission. The term, real estate appraiser, includes any real estate appraiser who is certified, licensed, or registered pursuant to chapter 36-21B. This section is prospective in application.
Source: SL 2007, ch 130, § 1.
15-2-36. Actions for breach of trust against qualified persons.
If § 21-22-30 or 55-3-45 do not apply, absent fraud, intentional misrepresentation, or material omission, an action to recover for breach of trust against a qualified person as defined in § 55-3-41 or an officer, director, or employee of a qualified person may be commenced only within two years of a trustee's accounting for the period of the breach pursuant to chapter 55-3. In the case of fraud, intentional misrepresentation, or material omission, the limitation period does not commence to run until discovery of the breach of trust.
Source: SL 2007, ch 247, § 5; SL 2010, ch 232, § 27.
