S.D. Admin. R. 20:07:22:03

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:07:22:03 - Private trust company defined

A private trust company is one that does not engage in trust company business with the general public or otherwise hold itself out as a trustee or fiduciary for hire by advertising, solicitation, or other means and instead operates for the benefit of a family or families, regardless of whether compensation is received or anticipated.

S.D. Admin. R. 20:07:22:03

36 SDR 208, effective 6/30/2010.

General Authority: SDCL 51A-2-13.

Law Implemented: SDCL 51A-6A-1.