Section 51A-6A-64 - Establishment of common trust fund--Investment of funds in common trust fund. - South Dakota Statutes

51A-6A-64. Establishment of common trust fund--Investment of funds in common trust fund. Any trust company qualified to act as a fiduciary in this state may establish common trust funds for the purpose of furnishing investments to itself as fiduciary, or to itself and others, as co-fiduciaries. Any trust company qualified to act as fiduciary in this state may, as such fiduciary or co-fiduciary, invest funds that it lawfully holds for investment in the common trust funds, if the investment is not prohibited by the instrument, judgment, decree, or order creating the fiduciary relationship.

Source: SL 1995, ch 268, § 62.