There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 47 CORPORATIONS
Chapter 09A. Corporate Farming Restrictions
§47-9A-4 Banks and trust companies exempt--Purchase of agricultural land through pooled investment fund excepted.
SD Codified L § 47-9A-4 (through 2012) What's This?
47-9A-4. Banks and trust companies exempt--Purchase of agricultural land through pooled investment fund excepted. Any national or state chartered bank, or trust company, authorized to do business in this state shall be exempt from the provisions of this chapter; provided, however, that no national or state bank or trust company shall purchase agricultural lands in South Dakota through a pooled investment fund formed from assets from retirement, pension, profit sharing, stock bonds or other trusts.
Source: SL 1974, ch 294, § 9; SL 1977, ch 383.
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