South Dakota Statutes

§ 51A-4-2 — Purchase and sale of securities on order of customer--Contract with securities brokerage services allowed.

South Dakota § 51A-4-2

JurisdictionSouth Dakota

Title 51ABANKS AND BANKING

Ch. 51A-2GENERAL POWERS OF BANKS

This text of South Dakota § 51A-4-2 (Purchase and sale of securities on order of customer--Contract with securities brokerage services allowed.) 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-4-2 (2026).

Text

A bank may, directly or through subsidiaries, purchase or sell without recourse any security upon the order of a customer for his account. The terms of this section shall be construed to permit banks to contract with securities brokerage services.

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Legislative History

SL 1969, ch 11, § 4.7; SDCL, § 51-18-7; SL 1988, ch 377, § 87; SDCL, § 51-18-1.1.

Nearby Sections

15

§ 51A-1-1

Applicability of provisions--Retention of capital structure by banks.

§ 51A-1-10

False entries--Obstruction of examination--Felonies.

§ 51A-1-11

False filing as misdemeanor.

§ 51A-1-12

Payment or indemnification of person for fine, penalty or judgment unlawful--Civil liability--Exceptions--Action to recover payments.

§ 51A-1-13

Misappropriation of funds or information by officer, director, or employee as felony.

§ 51A-1-14

Receipt, possession, or sale of misappropriated funds or information as felony.

§ 51A-1-15

Acknowledgments by officers or employees of banks validated.

§ 51A-1-16

Severability of provisions.

§ 51A-1-17

No duty to disclose information about customers--Exceptions.

§ 51A-1-18

Agreements or compacts with other jurisdictions--Administration--Filing--Availability.

§ 51A-1-19

Central bank digital currency--Public transaction prohibited.

§ 51A-1-2

Definition of terms.

§ 51A-1-20

Central bank digital currency--Private transaction--Alternative required.

§ 51A-1-3

Adverse claims against bank deposits, contents of safe deposit box or property in safekeeping.

§ 51A-1-4

Disqualification of officer, employee or director for violation--Civil liability.

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Bluebook (online)

South Dakota § 51A-4-2, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/51A-4-2.