South Dakota § 51A-4-1 Miscellaneous banking powers.

South Dakota Statutes

§ 51A-4-1 — Miscellaneous banking powers.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-2 GENERAL POWERS OF BANKS

In addition to powers otherwise conferred by the laws of this state, a bank may exercise all such powers as are usual in carrying on the business of banking, including, the buying, discounting, and negotiating promissory notes, bonds, drafts, bills of exchange, foreign and domestic, and other evidences of debt; by receiving commercial and saving deposits under such rules as the commission may establish; by buying and selling coin and bullion, and by buying and selling exchange, foreign and domestic; issuing letters of credit, by loaning money on personal and real security, and by renting receptacles for safekeeping on its premises.

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In addition to powers otherwise conferred by the laws of this state, a bank may exercise all such powers as are usual in carrying on the business of banking, including, the buying, discounting, and negotiating promissory notes, bonds, drafts, bills of exchange, foreign and domestic, and other evidences of debt; by receiving commercial and saving deposits under such rules as the commission may establish; by buying and selling coin and bullion, and by buying and selling exchange, foreign and domestic; issuing letters of credit, by loaning money on personal and real security, and by renting receptacles for safekeeping on its premises.

South Dakota § 51A-4-1 (Miscellaneous banking powers.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1891, ch 27, § 4; RCivC 1903, § 850; SL 1909, ch 222, art 2, § 4; SL 1911, ch 255, § 6; SL 1915, ch 102, art 2, § 5; RC 1919, §§ 8952, 9037; SDC 1939, § 6.0401 (4), (5); SDCL, §§ 51-6-7, 51-6-11; SL 1969, ch 11, § 4.1; SL 1988, ch 377, § 79; SDCL, § 51-18-1.