South Dakota Statutes

§ 51A-5-13 — Segregation of assets held by bank as fiduciary.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-2 TRUST BUSINESS OF BANKS

A bank holding any asset as fiduciary, shall:

(1)Segregate all such assets from any other assets of the bank and from the assets of other trusts, except as may be expressly provided otherwise by law or by the writing creating the trust.

(2)Record such assets in a separate set of books maintained for fiduciary activities.

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

South Dakota § 51A-5-13 (Segregation of assets held by bank as fiduciary.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1969, ch 11, § 5.6; SL 1975, ch 292, §§ 1, 2; SDCL, § 51-19-7.

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.

View on official source ↗