47-9A-4. Banks and trust companies exempt--Purchase of agricultural land through pooled investment fund excepted.
Any national or state chartered bank, or trust company, authorized to do business in this state shall be exempt from the provisions of this chapter; provided, however, that no national or state bank or trust company shall purchase agricultural lands in South Dakota through a pooled investment fund formed from assets from retirement, pension, profit sharing, stock bonds or other trusts.
Source: SL 1974, ch 294, ยง9; SL 1977, ch 383.
Structure South Dakota Codified Laws
Chapter 09A - Corporate Farming Restrictions
Section 47-9A-1 - Agriculture prohibited as corporate or limited liability company purpose.
Section 47-9A-1.1 - Certain breeding stock, products, and facilities exempt.
Section 47-9A-2 - Definition of terms.
Section 47-9A-3 - Corporate farming and acquisition of interest in farm real estate prohibited.
Section 47-9A-3.1 - Certain greenhouse operations exempt.
Section 47-9A-3.2 - Facilities for feeding poultry or producing meat or eggs exempt.
Section 47-9A-3.3 - Dairy on agricultural lands exempt.
Section 47-9A-5 - Certain limited liability entities exempt from restrictions.
Section 47-9A-6 - Encumbrance taken for security exempt.
Section 47-9A-8 - Agricultural land--Gift--Restrictions--Applicability.
Section 47-9A-10 - Raising breeding stock for resale exempt--Nurseries and seed farms.
Section 47-9A-11 - Livestock feeding exempt.
Section 47-9A-12.1 - Cement Plant Commission property used for nonfarming purposes.
Section 47-9A-13 - Family farm and authorized farm corporations exempt.
Section 47-9A-13.2 - Pork production subject to same provisions as other operations.
Section 47-9A-14 - Family farm corporation defined.
Section 47-9A-15 - Qualifications of authorized small farm corporation.
Section 47-9A-16 - Report required of corporation engaged in farming--Contents.
Section 47-9A-18 - Farming prohibited without certification by secretary of state.
Section 47-9A-20 - Corporation failing to file or filing false report--Civil fine.
Section 47-9A-21 - Attorney general to prosecute violations--Order of court declaring violation.