Chapter 05 - Trust Business Of Banks

SOUTH DAKOTA STATUTES AND CODES

Chapter 05 - Trust Business Of Banks

Section 51A-5-1 - Use of "trust" in name restricted--Exercise of trust powers restricted--Misdemeanor.
Section 51A-5-1.1 - Powers of banks engaging in trust business.
Section 51A-5-1.2 - "Trust business" defined.
Section 51A-5-2 - Bank as trustee or custodian for retirement benefit plans.
Section 51A-5-3 - Fiduciary authority of bank authorized by charter to exercise trust powers.
Section 51A-5-4 - Deposit required to do trust business--Amount and form of deposit--Disposition ofincome.
Section 51A-5-5 - Deposit available for satisfaction of claims upon liquidation, abandonment of trustpowers, or resignation from fiduciary positions.
Section 51A-5-6 - National banks' authority to engage in trust business--Examination of trust business--Acceptance of federal examination.
Section 51A-5-7 - Foreign bank or trust company to comply with requirements to act as fiduciary instate--Violation as misdemeanor.
Section 51A-5-8 - Reciprocal privileges extended to foreign bank or trust company acting as fiduciary.
Section 51A-5-9 - Filing with Office of the Secretary of State by foreign bank or trust company actingas fiduciary--Designation as agent to receive process--Service of process.
Section 51A-5-10 - Establishment of place of business not permitted or prohibited by filing requirements.
Section 51A-5-11 - Investment powers of trust company.
Section 51A-5-12 - Voting of bank shares by cotrustee.
Section 51A-5-13 - Segregation of assets held by bank as fiduciary.
Section 51A-5-14 - Deposit of federally guaranteed securities with federal reserve bank.
Section 51A-5-15 - Records of depositor to show ownership of securities--Transfers by book entries.
Section 51A-5-16 - Duty of custodian to certify deposited securities to fiduciary--Duty of fiduciary.
Section 51A-5-17 - Application of provisions to fiduciaries and custodians whenever appointed.
Section 51A-5-18 - Deposits of cash held by bank as fiduciary.
Section 51A-5-19 - Oath or bond not required of bank to qualify as fiduciary.
Section 51A-5-20 - Nominees used by bank acting as fiduciary or cofiduciary.
Section 51A-5-21 - Deposit in clearing corporation of securities held as fiduciary or custodian.
Section 51A-5-22 - Ownership of stock in clearing corporation not required for deposit of securities byfiduciary or custodian.
Section 51A-5-23 - Holding in bulk of securities deposited in clearing corporation--Merger ofcertificates.
Section 51A-5-24 - Records of securities deposited in clearing corporation--Transfer by book entry--Certification to interested party of securities held.
Section 51A-5-25 - Approval or ratification of acceptance or relinquishment of fiduciary accounts byboard of directors or committee.
Section 51A-5-26 - Supervision of investment of fiduciary funds by committee designated by board ofdirectors.
Section 51A-5-27 - Reports of committees designated to supervise fiduciary accounts.
Section 51A-5-28 - Trust service office defined.
Section 51A-5-29 - Trust service office--Approvals for establishment.
Section 51A-5-30 - Trust service office--Business allowed.
Section 51A-5-31 - Trust service office--Agreement between institutions--Filing--Notice--Contents--Substitution as fiduciary.

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Chapter 05 - Trust Business Of Banks

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