South Dakota § 51A-2-14.1 State chartered banks granted powers allowed federally chartered banks.

South Dakota Statutes

§ 51A-2-14.1 — State chartered banks granted powers allowed federally chartered banks.

South Dakota § 51A-2-14.1

Title 51ABANKS AND BANKING

Ch. 51A-2DIVISION OF BANKING

This text of South Dakota § 51A-2-14.1 (State chartered banks granted powers allowed federally chartered banks.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 51A-2-14.1 (2026).

Text

Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, expressed or implied, that a state bank has under the laws of this state, a state bank shall have the powers and authorities conferred as of January 1, 2008, upon federally chartered banks doing business in this state. A state bank may exercise the powers and authorities conferred on a federally chartered bank after this date only if the director finds that the exercise of such powers and authorities:

(1)Serves the convenience and advantage of depositors, borrowers, or the general public; and (2) Maintains the fairness of competition and parity between state chartered and federally chartered banks. If the director finds that the before-mentioned conditions have been met, the director s

Free access — add to your briefcase to read the full text and ask questions with AI

Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, expressed or implied, that a state bank has under the laws of this state, a state bank shall have the powers and authorities conferred as of January 1, 2008, upon federally chartered banks doing business in this state. A state bank may exercise the powers and authorities conferred on a federally chartered bank after this date only if the director finds that the exercise of such powers and authorities: (1) Serves the convenience and advantage of depositors, borrowers, or the general public; and (2) Maintains the fairness of competition and parity between state chartered and federally chartered banks. If the director finds that the before-mentioned conditions have been met, the director shall make a declaratory ruling allowing state banks the same powers and authorities. As used in this section, powers and authorities, include, without limitation, powers and authorities in corporate governance and operational matters.