S.D. Codified Laws § 51A-5-7

Current through the 2024 Legislative Session

Section 51A-5-7 - Foreign bank or trust company to comply with requirements to act as fiduciary in state-Violation as misdemeanor

No bank or trust company organized and doing business under the laws of any state or territory of the United States of America, or of the District of Columbia, other than South Dakota, or a national bank doing business in any other state, territory, or district, may act in a fiduciary capacity in this state, except pursuant to the provisions of §§ 51A-5-8 to 51A-5-10, inclusive. A violation of this section is a Class 2 misdemeanor.

SDCL 51A-5-7

SL 1973, ch 292, § 4; SL 1990, ch 158, § 28; SDCL, § 51-19-5.1; SL 1995, ch 268, § 67; SL 1997, ch 272, § 5.