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2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 05 - Trust Business Of Banks
§ 51A-5-1.2 "Trust business" defined.
Universal Citation: SD Codified L § 51A-5-1.2 (2017)
51A-5-1.2. "Trust business" defined. Trust business is engaging in, or holding out to the public as willing to engage in, the business of acting as a fiduciary for hire, except that no abstractor, accountant, attorney, credit union, insurance broker, insurance company, investment advisor, real estate broker or sales agent, savings and loan association, savings bank, securities broker or dealer, real estate title insurance company or real estate escrow company shall be deemed to be engaged in a trust business with respect to fiduciary services customarily performed by them for compensation as a traditional incident to their regular business activities.
Source: SL 1995, ch 268, ยง 85A.
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