A thing is done "in good faith" within the meaning of §§ 55-7-2 to 55-7-15 , inclusive, when it is in fact done honestly, whether it be done negligently or not. Source: SL 1943, ch 19 , § 1; SDC Supp 1960, § 6.0701 (2).
A thing done "in good faith" defined
SDCL § 55-7-3 — under THIRD-PARTY RESPONSIBILITY FOR FIDUCIARY ACTS.
SDCL § 55-7-3