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

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.

South Dakota § 51A-5-26 (Supervision of investment of fiduciary funds by committee designated by board of directors.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.