South Dakota Codified Laws
Title 51A - Banks and Banking
Chapter 06A - Creation Of Trust Companies

Section 51A-6A-4 - Application for incorporation--Approval procedure--Emergency procedure. - 51A-6A-4. Application for incorporation--Approval procedure--Emergency procedure. No trust company may...

Section 51A-6A-5 - Considerations in ruling on application-Proceedings on application. - 51A-6A-5. Considerations in ruling on application-Proceedings on application. In ruling...

Section 51A-6A-5.1 - Notice to division of material omission in application or change in facts reported in application. - 51A-6A-5.1. Notice to division of material omission in application or...

Section 51A-6A-6 - Application fee. - 51A-6A-6. Application fee. All applications for charters under this chapter...

Section 51A-6A-7 - Organization of public and private trust companies--Submission and approval of articles--Required information. - 51A-6A-7. Organization of public and private trust companies--Submission and approval...

Section 51A-6A-7.1 - Corporation laws applied. - 51A-6A-7.1. Corporation laws applied. All provisions of law applicable to...

Section 51A-6A-8 - Amendment of articles--Extension of existence. - 51A-6A-8. Amendment of articles--Extension of existence. Prior to the expiration...

Section 51A-6A-9 - Starting date of trust company existence--Commencement of business. - 51A-6A-9. Starting date of trust company existence--Commencement of business. The...

Section 51A-6A-10 - Statement of payment of capital--Certificate of organization. - 51A-6A-10. Statement of payment of capital--Certificate of organization. When the...

Section 51A-6A-11 - Authority to transact business required--Violation as misdemeanor. - 51A-6A-11. Authority to transact business required--Violation as misdemeanor. No individual,...

Section 51A-6A-11.1 - Public trust companies to maintain office and perform trust administration in South Dakota. - 51A-6A-11.1. Public trust companies to maintain office and perform trust...

Section 51A-6A-11.2 - Office space requirements. - 51A-6A-11.2. Office space requirements. For purposes of §51A-6A-11.1, office space...

Section 51A-6A-11.3 - Approval of other office space requirements. - 51A-6A-11.3. Approval of other office space requirements. Upon application by...

Section 51A-6A-12 - List of owners--Annual submission to director--Verification of list. - 51A-6A-12. List of owners--Annual submission to director--Verification of list. Every...

Section 51A-6A-13 - Governing board--Membership--Election--Vacancies. - 51A-6A-13. Governing board--Membership--Election--Vacancies. The business of any trust company shall...

Section 51A-6A-14 - Officers of governing board--Bond required. - 51A-6A-14. Officers of governing board--Bond required. The governing board may...

Section 51A-6A-15 - Meetings of governing board--Examination and audit of books and records. - 51A-6A-15. Meetings of governing board--Examination and audit of books and...

Section 51A-6A-16 - Oath of board members. - 51A-6A-16. Oath of board members. Each board member shall take...

Section 51A-6A-17 - Persons convicted of certain crimes ineligible to serve as board member, officer, or key employee--Civil penalty--Criminal background investigation. - 51A-6A-17. Persons convicted of certain crimes ineligible to serve as...

Section 51A-6A-19 - Determining capital--Minimum--Purpose of capital--Fidelity bond and liability insurance policy. - 51A-6A-19. Determining capital--Minimum--Purpose of capital--Fidelity bond and liability insurance policy....

Section 51A-6A-19.1 - Additional capital requirements--Safety and soundness factors to be considered--Effective date of order--Hearing. - 51A-6A-19.1. Additional capital requirements--Safety and soundness factors to be considered--Effective...

Section 51A-6A-19.2 - Investments pledged to division for security of trust creditors of trust company--Amount--Income from investments--Pledge increase--Hearing. - 51A-6A-19.2. Investments pledged to division for security of trust creditors...

Section 51A-6A-19.3 - Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation. - 51A-6A-19.3. Pledge available to satisfy claims upon liquidation, abandonment of...

Section 51A-6A-20 - Payment of subscriptions--Reduction of common stock. - 51A-6A-20. Payment of subscriptions--Reduction of common stock. All subscriptions to...

Section 51A-6A-21 - Transferring stock and ownership units. - 51A-6A-21. Transferring stock and ownership units. The shares of stock...

Section 51A-6A-22 - Increasing capital stock or ownership units. - 51A-6A-22. Increasing capital stock or ownership units. The capital stock...

Section 51A-6A-23 - Registration of capital stock or ownership units. - 51A-6A-23. Registration of capital stock or ownership units. If the...

Section 51A-6A-24 - Issuance and retirement of preferred stock. - 51A-6A-24. Issuance and retirement of preferred stock. Any trust company...

Section 51A-6A-25 - Rights and liability of preferred stockholders--Dividends. - 51A-6A-25. Rights and liability of preferred stockholders--Dividends. The holders of...

Section 51A-6A-26 - Issuance of convertible or nonconvertible capital notes or debentures. - 51A-6A-26. Issuance of convertible or nonconvertible capital notes or debentures....

Section 51A-6A-27 - Dividends not permitted from required capital. - 51A-6A-27. Dividends not permitted from required capital. A trust company...

Section 51A-6A-28 - Dividends from undivided profits or surplus. - 51A-6A-28. Dividends from undivided profits or surplus. The governing board...

Section 51A-6A-29 - Powers of trust company. - 51A-6A-29. Powers of trust company. A trust company may exercise...

Section 51A-6A-29.1 - Permissible business of trust companies. - 51A-6A-29.1. Permissible business of trust companies. A trust company may...

Section 51A-6A-30 - Retention of records--Promulgation of rules--Reproduction of records--Duty of confidentiality. - 51A-6A-30. Retention of records--Promulgation of rules--Reproduction of records--Duty of confidentiality....

Section 51A-6A-31 - Periodic examination of trust company--Report of examination--Cooperative, coordinating and information-sharing agreements among agencies. - 51A-6A-31. Periodic examination of trust company--Report of examination--Cooperative, coordinating and...

Section 51A-6A-32 - Examination of fiduciary affairs of officers or employees--Examination of affiliated companies or corporations. - 51A-6A-32. Examination of fiduciary affairs of officers or employees--Examination of...

Section 51A-6A-33 - Examination expenses paid by trust companies--Fees. - 51A-6A-33. Examination expenses paid by trust companies--Fees. The expense of...

Section 51A-6A-34 - Annual report of trust company to director--Form of report--Request for additional reports. - 51A-6A-34. Annual report of trust company to director--Form of report--Request...

Section 51A-6A-35 - Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director. - 51A-6A-35. Authority of trust company revoked upon obstruction or interference...

Section 51A-6A-36 - Service of notice of charges--Contents of notice--Temporary cease and desist order. - 51A-6A-36. Service of notice of charges--Contents of notice--Temporary cease and...

Section 51A-6A-37 - Revocation of franchise for failure to comply with lawful requirements. - 51A-6A-37. Revocation of franchise for failure to comply with lawful...

Section 51A-6A-38 - Hearing on revocation of trust authority. - 51A-6A-38. Hearing on revocation of trust authority. A trust company...

Section 51A-6A-39 - Confidentiality of information generated by examination--Disclosure--Hearing. - 51A-6A-39. Confidentiality of information generated by examination--Disclosure--Hearing. All information the...

Section 51A-6A-40 - Correction of unsafe or unsound condition or operation--Appointment of special assistant--Appeal of appointment. - 51A-6A-40. Correction of unsafe or unsound condition or operation--Appointment of...

Section 51A-6A-41 - Insolvency defined. - 51A-6A-41. Insolvency defined. A trust company is insolvent if: (1)The...

Section 51A-6A-42 - Director to take charge of insolvent trust company--Appointment of special assistant. - 51A-6A-42. Director to take charge of insolvent trust company--Appointment of...

Section 51A-6A-43 - Plan for reorganization of insolvent trust company. - 51A-6A-43. Plan for reorganization of insolvent trust company. The owners...

Section 51A-6A-44 - Appointment of receiver--Bond--Qualifications--Report--Removal. - 51A-6A-44. Appointment of receiver--Bond--Qualifications--Report--Removal. When the director takes charge of...

Section 51A-6A-45 - Powers and duties of receiver--Order of payment of liabilities. - 51A-6A-45. Powers and duties of receiver--Order of payment of liabilities....

Section 51A-6A-45.1 - Liability of receiver. - 51A-6A-45.1. Liability of receiver. No receiver, appointed pursuant to §51A-6A-44,...

Section 51A-6A-46 - Periodic examination of trust company in the hands of a receiver. - 51A-6A-46. Periodic examination of trust company in the hands of...

Section 51A-6A-46.1 - Suspension, liquidation, order against unsound practice, removal of director or officer, or injunction. - 51A-6A-46.1. Suspension, liquidation, order against unsound practice, removal of director...

Section 51A-6A-46.2 - Disclosure of confidential information in certain actions. - 51A-6A-46.2. Disclosure of confidential information in certain actions. The provisions...

Section 51A-6A-47 - Acquisition of trust company--Notice to director--Approval--Order of disapproval--Hearing. - 51A-6A-47. Acquisition of trust company--Notice to director--Approval--Order of disapproval--Hearing. A...

Section 51A-6A-48 - Contents of notice of proposed acquisition. - 51A-6A-48. Contents of notice of proposed acquisition. A notice of...

Section 51A-6A-49 - Reason for disapproval of acquisition. - 51A-6A-49. Reason for disapproval of acquisition. The director may disapprove...

Section 51A-6A-50 - Procedure for merger, consolidation, conversion, or transfer of assets and liabilities to another bank or trust company. - 51A-6A-50. Procedure for merger, consolidation, conversion, or transfer of assets...

Section 51A-6A-50.1 - Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company. - 51A-6A-50.1. Proceedings to legally dissolve charter of acquired, merged, or...

Section 51A-6A-51 - Necessity of execution or delivery of deed for merger or consolidation. - 51A-6A-51. Necessity of execution or delivery of deed for merger...

Section 51A-6A-52 - Fiduciary capacity of successor trust company. - 51A-6A-52. Fiduciary capacity of successor trust company. Upon the merger...

Section 51A-6A-53 - Name of trust company--Name change. - 51A-6A-53. Name of trust company--Name change. No trust company may...

Section 51A-6A-54 - Approval required for changing place of business--Examination and investigation by director. - 51A-6A-54. Approval required for changing place of business--Examination and investigation...

Section 51A-6A-58 - Establishment of trust service offices--Application. - 51A-6A-58. Establishment of trust service offices--Application. After first applying for...

Section 51A-6A-61 - Membership in federal reserve bank. - 51A-6A-61. Membership in federal reserve bank. Any trust company may...

Section 51A-6A-62 - Depositing securities into federal reserve bank. - 51A-6A-62. Depositing securities into federal reserve bank. Any trust company...

Section 51A-6A-63 - Registering investments in name of nominee--Liability of trust company. - 51A-6A-63. Registering investments in name of nominee--Liability of trust company....

Section 51A-6A-64 - Common trust funds and collective investment funds. - 51A-6A-64. Common trust funds and collective investment funds. Any trust...

Section 51A-6A-66 - Exclusion of entity from chapters 51A-5 and 51A-6A--Governing documents--Notice to director. - 51A-6A-66. Exclusion of entity from chapters 51A-5 and 51A-6A--Governing documents--Notice...

Section 51A-6A-67 - Trust company receivership and liquidation captive insurance company fund. - 51A-6A-67. Trust company receivership and liquidation captive insurance company fund....

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South Dakota Codified Laws Title 51A - Banks and Banking Chapter 06A - Creation Of Trust Companies

South Dakota Codified Laws
Title 51A - Banks and Banking
Chapter 06A - Creation Of Trust Companies