There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-3-41 — "Qualified person" defined.
55-3-41. "Qualified person" defined. For the purposes of § 55-3-39, the term, qualified person, means:
(1) An individual who, except for brief
intervals, military service, attendance at an educational or
training institution, or for absences for good cause shown, resides
in this state, whose true and permanent home is in this state, who
does not have a present intention of moving from this state, and
who has the intention of returning to this state when
away;
(2) A trust company that is organized
under Title 51A or under federal law and that has its principal
place of business in this state; or
(3) A bank or savings association that
possesses and exercises trust powers, has its principal place of
business in this state, and the deposits of which are insured by
the Federal Deposit Insurance Corporation.
Source: SL 1998, ch 282, § 22.
Source: SL 1998, ch 282, § 22.
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