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2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 05 - Trust Business Of Banks
§ 51A-5-22 Ownership of stock in clearing corporation not required for deposit of securities by fiduciary or custodian.
Universal Citation: SD Codified L § 51A-5-22 (2017)
51A-5-22. Ownership of stock in clearing corporation not required for deposit of securities by fiduciary or custodian. Sections 51A-5-21 to 51A-5-24, inclusive, shall apply to any fiduciary holding securities in its fiduciary capacity, and to any bank or trust company holding securities as a custodian, managing agent or custodian for a fiduciary, regardless of the date of the agreement, instrument, or court order by which it is appointed and regardless of whether or not such fiduciary, custodian, managing agent, or custodian for a fiduciary owns capital stock of such clearing corporation.
Source: SL 1978, ch 357, § 4; SDCL, § 51-19-10.2.
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