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

SD Codified L § 51A-5-7 (2019) (N/A)
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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.

Source: 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.

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§ 51A-5-6 National banks' authority to engage in trust business--Examination of trust business--Acceptance of federal examination.
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§ 51A-5-8 Reciprocal privileges extended to foreign bank or trust company acting as fiduciary.