South Dakota § 51A-4-20.2 Qualification of community development corporation as permissible investment.

South Dakota Statutes

§ 51A-4-20.2 — Qualification of community development corporation as permissible investment.

South Dakota § 51A-4-20.2

Title 51ABANKS AND BANKING

Ch. 51A-2GENERAL POWERS OF BANKS

This text of South Dakota § 51A-4-20.2 (Qualification of community development corporation as permissible investment.) 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-4-20.2 (2026).

Text

To qualify as a permissible investment for banks pursuant to § 51A-4-20 , a community development corporation shall be of a predominantly civic, community, or public nature and not merely private and entrepreneurial. Any project or entity which has been approved as a community development corporation by the Office of the Comptroller of the Currency, the Federal Reserve Board, or any other federal bank regulatory authority shall be eligible for investment by a bank, subject to the limitations of §§ 51A-4-20 to 51A-4-20.3 , inclusive.

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To qualify as a permissible investment for banks pursuant to § 51A-4-20 , a community development corporation shall be of a predominantly civic, community, or public nature and not merely private and entrepreneurial. Any project or entity which has been approved as a community development corporation by the Office of the Comptroller of the Currency, the Federal Reserve Board, or any other federal bank regulatory authority shall be eligible for investment by a bank, subject to the limitations of §§ 51A-4-20 to 51A-4-20.3 , inclusive.