CHAPTER 51A-6A
CREATION OF TRUST COMPANIES
51A-6A-1
Definitions.
51A-6A-2
Confidential information.
51A-6A-3
"Community" defined.
51A-6A-4
Application for incorporation--Approval procedure--Emergency procedure.
51A-6A-5
Considerations in ruling on application-Proceedings on application.
51A-6A-6
Application fee.
51A-6A-6.1
Repealed.
51A-6A-7
Articles of organization or incorporation--Submission and approval--Required
information.
51A-6A-8
Amendment of articles--Extension of existence.
51A-6A-9
Starting date of trust company existence--Commencement of business.
51A-6A-10
Statement of payment of capital--Certificate of organization.
51A-6A-11
Authority to transact business required--Violation as misdemeanor.
51A-6A-11.1
Public trust companies to maintain office and perform trust administration in South
Dakota.
51A-6A-12
List of owners--Annual submission to director--Verification of list.
51A-6A-13
Governing board--Membership--Election--Vacancies.
51A-6A-14
Officers of governing board--Bond required.
51A-6A-15
Meetings of governing board--Examination and audit of books and records.
51A-6A-16
Oath of board members.
51A-6A-17
Persons convicted of certain crimes ineligible to serve as board member, officer, or
key employee--Civil penalty--Criminal background investigation.
51A-6A-18
Repealed.
51A-6A-19
Determining capital--Minimum--Purpose of capital--Fidelity bond or liability
insurance policy.
51A-6A-19.1
Additional capital requirements--Safety and soundness factors to be considered--Effective date of order--Hearing.
51A-6A-19.2
Investments pledged to the division for the security of trust creditors of trust
company--Income from investments--Effective date of order requiring pledge
increase--Hearing.
51A-6A-20
Payment of subscriptions--Reduction of common stock.
51A-6A-21
Transferring stock and ownership units.
51A-6A-22
Increasing capital stock or ownership units.
51A-6A-23
Registration of capital stock or ownership units.
51A-6A-24
Issuance of preferred stock.
51A-6A-25
Rights and liability of preferred stockholders--Dividends.
51A-6A-26
Issuance of convertible or nonconvertible capital notes or debentures.
51A-6A-27
Source of dividends.
51A-6A-28
Dividends from undivided profits.
51A-6A-29
Powers of trust company.
51A-6A-30
Retention of records--Promulgation of rules--Reproduction of records--Duty of
confidentiality.
51A-6A-31
Periodic examination of trust company--Report of examination--Cooperative,
coordinating and information-sharing agreements among agencies.
51A-6A-32
Examination of fiduciary affairs of officers or employees--Examination of affiliated
companies or corporations.
51A-6A-33
Examination expenses paid by trust companies--Fees.
51A-6A-34
Annual report of trust company to director--Form of report--Request for additional
reports.
51A-6A-35
Authority of trust company revoked upon obstruction or interference with, or refusal
to submit to, examination of director.
51A-6A-36
Service of notice of charges--Contents of notice--Temporary cease and desist order.
51A-6A-37
Revocation of franchise for failure to comply with lawful requirements.
51A-6A-38
Hearing on revocation of trust authority.
51A-6A-39
Confidentiality of information generated by examination--Disclosure--Hearing.
51A-6A-40
Correction of unsafe or unsound condition or operation--Appointment of special
assistant--Appeal of appointment.
51A-6A-41
Insolvency defined.
51A-6A-42
Director to take charge of insolvent trust company--Appointment of special assistant.
51A-6A-43
Plan for reorganization of insolvent trust company.
51A-6A-44
Appointment of receiver--Bond--Qualifications--Report--Removal.
51A-6A-45
Powers and duties of receiver--Order of payment of liabilities.
51A-6A-45.1
Liability of receiver.
51A-6A-46
Periodic examination of trust company in the hands of a receiver.
51A-6A-46.1
Suspension, liquidation, order against unsound practice, removal of director or
officer, or injunction.
51A-6A-46.2
Confidentiality of information--Inapplicability to certain actions.
51A-6A-47
Acquisition of trust company--Notice to director--Approval--Order of disapproval--Hearing.
51A-6A-48
Contents of notice of proposed acquisition.
51A-6A-49
Reason for disapproval of acquisition.
51A-6A-50
Procedure for merger, consolidation, conversion, or transfer of assets and liabilities
to another bank or trust company.
51A-6A-51
Necessity of execution or delivery of deed for merger or consolidation.
51A-6A-52
Fiduciary capacity of successor trust company.
51A-6A-53
Name of trust company--Name change.
51A-6A-54
Approval required for changing place of business--Examination and investigation by
director.
51A-6A-55
Agreements between contracting trustee and original trustee as to authority of
contracting trustee.
51A-6A-56
Notice to director of agreement with contracting trustee.
51A-6A-57
Notice of disapproval of agreement with contracting trustee--Petition to remove
contracting trustee.
51A-6A-58
Establishment of trust service offices--Application.
51A-6A-59, 51A-6A-60. Repealed.
51A-6A-61
Membership in federal reserve bank.
51A-6A-62
Depositing securities into federal reserve bank.
51A-6A-63
Registering investments in name of nominee--Liability of trust company.
51A-6A-64
Common trust funds and collective investment funds.
51A-6A-65
Conversion from state bank to trust company--Application--Investigation--Regulation.
51A-6A-66
Exclusion of entity from chapters 51A-5, 51A-6, and 51A-6A--Governing
documents--Notice to director.