South Dakota § 51A-5-25 Approval or ratification of acceptance or relinquishment of fiduciary accounts by board of directors or committee.

South Dakota Statutes

§ 51A-5-25 — Approval or ratification of acceptance or relinquishment of fiduciary accounts by board of directors or committee.

South Dakota § 51A-5-25

Title 51ABANKS AND BANKING

Ch. 51A-2TRUST BUSINESS OF BANKS

This text of South Dakota § 51A-5-25 (Approval or ratification of acceptance or relinquishment of fiduciary accounts by board of directors or committee.) 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-5-25 (2026).

Text

No bank shall accept or voluntarily relinquish a fiduciary account without the approval or ratification of the board of directors, or a committee of officers or directors designated by the board for that purpose, but the board or the committee may prescribe general rules governing acceptance or relinquishment of fiduciary accounts, and action taken by an officer in accordance with these rules is sufficient approval.

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No bank shall accept or voluntarily relinquish a fiduciary account without the approval or ratification of the board of directors, or a committee of officers or directors designated by the board for that purpose, but the board or the committee may prescribe general rules governing acceptance or relinquishment of fiduciary accounts, and action taken by an officer in accordance with these rules is sufficient approval.