South Dakota § 51A-5-26 Supervision of investment of fiduciary funds by committee designated by board of directors.

South Dakota Statutes

§ 51A-5-26 — Supervision of investment of fiduciary funds by committee designated by board of directors.

South Dakota § 51A-5-26

Title 51ABANKS AND BANKING

Ch. 51A-2TRUST BUSINESS OF BANKS

This text of South Dakota § 51A-5-26 (Supervision of investment of fiduciary funds by committee designated by board of directors.) 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-5-26 (2026).

Text

The board of directors shall designate one or more committees of not less than three qualified officers or directors to supervise the investment of fiduciary funds. No investment shall be made, retained, or disposed of without the approval of a committee. At least once each calendar year a committee shall review all assets of each fiduciary account and shall determine their current value, safety, and suitability and whether the investments should be modified or retained.

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The board of directors shall designate one or more committees of not less than three qualified officers or directors to supervise the investment of fiduciary funds. No investment shall be made, retained, or disposed of without the approval of a committee. At least once each calendar year a committee shall review all assets of each fiduciary account and shall determine their current value, safety, and suitability and whether the investments should be modified or retained.