Purchase and sale of securities on order of customer--Contract with securities brokerage services allowed.

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  2. South Dakota Codified Laws
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  5. Purchase and sale of securities on order of customer--Contract with securities brokerage services allowed.

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51A-4-2. Purchase and sale of securities on order of customer--Contract with securities brokerage services allowed.

A bank may, directly or through subsidiaries, purchase or sell without recourse any security upon the order of a customer for his account. The terms of this section shall be construed to permit banks to contract with securities brokerage services.

Source: SL 1969, ch 11, §4.7; SDCL, §51-18-7; SL 1988, ch 377, §87; SDCL, §51-18-1.1.


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