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Creation Of Trust Companies
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South Dakota Codified Laws
Banks and Banking
Creation Of Trust Companies
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Section
51A-6A-1
Definitions.
Section
51A-6A-2
Confidential information.
Section
51A-6A-3
"Community" defined.
Section
51A-6A-4
Application for incorporation--Approval procedure--Emergency procedure.
Section
51A-6A-5
Considerations in ruling on application-Proceedings on application.
Section
51A-6A-5.1
Notice to division of material omission in application or change in facts reported in application.
Section
51A-6A-6
Application fee.
Section
51A-6A-6.1
51A-6A-6.1.Repealed by SL 1998, ch 282, §34.
Section
51A-6A-7
Organization of public and private trust companies--Submission and approval of articles--Required information.
Section
51A-6A-7.1
Corporation laws applied.
Section
51A-6A-8
Amendment of articles--Extension of existence.
Section
51A-6A-9
Starting date of trust company existence--Commencement of business.
Section
51A-6A-10
Statement of payment of capital--Certificate of organization.
Section
51A-6A-11
Authority to transact business required--Violation as misdemeanor.
Section
51A-6A-11.1
Public trust companies to maintain office and perform trust administration in South Dakota.
Section
51A-6A-11.2
Office space requirements.
Section
51A-6A-11.3
Approval of other office space requirements.
Section
51A-6A-12
List of owners--Annual submission to director--Verification of list.
Section
51A-6A-13
Governing board--Membership--Election--Vacancies.
Section
51A-6A-14
Officers of governing board--Bond required.
Section
51A-6A-15
Meetings of governing board--Examination and audit of books and records.
Section
51A-6A-16
Oath of board members.
Section
51A-6A-17
Persons convicted of certain crimes ineligible to serve as board member, officer, or key employee--Civil penalty--Criminal background investigation.
Section
51A-6A-18
51A-6A-18.Repealed by SL 2002, ch 220, §1.
Section
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.
Section
51A-6A-19.2
Investments pledged to division for security of trust creditors of trust company--Amount--Income from investments--Pledge increase--Hearing.
Section
51A-6A-19.3
Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation.
Section
51A-6A-20
Payment of subscriptions--Reduction of common stock.
Section
51A-6A-21
Transferring stock and ownership units.
Section
51A-6A-22
Increasing capital stock or ownership units.
Section
51A-6A-23
Registration of capital stock or ownership units.
Section
51A-6A-24
Issuance and retirement of preferred stock.
Section
51A-6A-25
Rights and liability of preferred stockholders--Dividends.
Section
51A-6A-26
Issuance of convertible or nonconvertible capital notes or debentures.
Section
51A-6A-27
Dividends not permitted from required capital.
Section
51A-6A-28
Dividends from undivided profits or surplus.
Section
51A-6A-29
Powers of trust company.
Section
51A-6A-29.1
Permissible business of trust companies.
Section
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.
Section
51A-6A-32
Examination of fiduciary affairs of officers or employees--Examination of affiliated companies or corporations.
Section
51A-6A-33
Examination expenses paid by trust companies--Fees.
Section
51A-6A-34
Annual report of trust company to director--Form of report--Request for additional reports.
Section
51A-6A-35
Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director.
Section
51A-6A-36
Service of notice of charges--Contents of notice--Temporary cease and desist order.
Section
51A-6A-37
Revocation of franchise for failure to comply with lawful requirements.
Section
51A-6A-38
Hearing on revocation of trust authority.
Section
51A-6A-39
Confidentiality of information generated by examination--Disclosure--Hearing.
Section
51A-6A-40
Correction of unsafe or unsound condition or operation--Appointment of special assistant--Appeal of appointment.
Section
51A-6A-41
Insolvency defined.
Section
51A-6A-42
Director to take charge of insolvent trust company--Appointment of special assistant.
Section
51A-6A-43
Plan for reorganization of insolvent trust company.
Section
51A-6A-44
Appointment of receiver--Bond--Qualifications--Report--Removal.
Section
51A-6A-45
Powers and duties of receiver--Order of payment of liabilities.
Section
51A-6A-45.1
Liability of receiver.
Section
51A-6A-46
Periodic examination of trust company in the hands of a receiver.
Section
51A-6A-46.1
Suspension, liquidation, order against unsound practice, removal of director or officer, or injunction.
Section
51A-6A-46.2
Disclosure of confidential information in certain actions.
Section
51A-6A-47
Acquisition of trust company--Notice to director--Approval--Order of disapproval--Hearing.
Section
51A-6A-48
Contents of notice of proposed acquisition.
Section
51A-6A-49
Reason for disapproval of acquisition.
Section
51A-6A-50
Procedure for merger, consolidation, conversion, or transfer of assets and liabilities to another bank or trust company.
Section
51A-6A-50.1
Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company.
Section
51A-6A-51
Necessity of execution or delivery of deed for merger or consolidation.
Section
51A-6A-52
Fiduciary capacity of successor trust company.
Section
51A-6A-53
Name of trust company--Name change.
Section
51A-6A-54
Approval required for changing place of business--Examination and investigation by director.
Section
51A-6A-55
51A-6A-55 to 51A-6A-57.Repealed by SL 2013, ch 239, §§8 to 10.
Section
51A-6A-58
Establishment of trust service offices--Application.
Section
51A-6A-59
51A-6A-59, 51A-6A-60.Repealed by SL 2008, ch 258, §§12, 13.
Section
51A-6A-61
Membership in federal reserve bank.
Section
51A-6A-62
Depositing securities into federal reserve bank.
Section
51A-6A-63
Registering investments in name of nominee--Liability of trust company.
Section
51A-6A-64
Common trust funds and collective investment funds.
Section
51A-6A-65
Repealed
Section
51A-6A-66
Exclusion of entity from chapters 51A-5 and 51A-6A--Governing documents--Notice to director.
Section
51A-6A-67
Trust company receivership and liquidation captive insurance company fund.