There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-6-2.1 — Establishment of common trust funds for funds held by affiliated bank or trustcompany--Chapter applicable.
55-6-2.1. Establishment of common trust funds for funds held by affiliated bank or trust company--Chapter applicable. A bank or trust company qualified to act as a fiduciary in this state may:
(1) Establish and maintain common trust
funds for the collective investment of funds held in any fiduciary
capacity by it or by another bank or trust company which is owned
or controlled by a corporation which owns or controls such bank or
trust company;
(2) Invest funds which it holds in common
trust funds established and maintained pursuant to subdivision
(1).
The
provisions of §§ 55-6-1 to 55-6-6, inclusive,
relating to common trust funds shall apply to the establishment and
maintenance of common trust funds under this section.
This section
shall apply to all fiduciary relationships.
Source: SL 1978, ch 356, §§ 1 to 3.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
