South Dakota § 51A-6A-19.3 Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation.

South Dakota Statutes

§ 51A-6A-19.3 — Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation.

South Dakota § 51A-6A-19.3

Title 51ABANKS AND BANKING

Ch. 51A-6ACREATION OF TRUST COMPANIES

This text of South Dakota § 51A-6A-19.3 (Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation.) 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-6A-19.3 (2026).

Text

Upon liquidation, abandonment of trust powers, or resignation from all duties exercised pursuant to § 51A-6A-29 , the pledge required by § 51A-6A-19 . 2 shall be made available for the reasonable satisfaction of claims involving trust company accounts. Any surplus remaining after the satisfaction of all such claims and costs incurred by the division shall be returned to the trust company. Unless the division has reason to believe that claims are forthcoming, the division shall release any pledge no later than twelve months from the date all affected accounts are moved to a successor trustee, custodian, or administrator.

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Upon liquidation, abandonment of trust powers, or resignation from all duties exercised pursuant to § 51A-6A-29 , the pledge required by § 51A-6A-19 . 2 shall be made available for the reasonable satisfaction of claims involving trust company accounts. Any surplus remaining after the satisfaction of all such claims and costs incurred by the division shall be returned to the trust company. Unless the division has reason to believe that claims are forthcoming, the division shall release any pledge no later than twelve months from the date all affected accounts are moved to a successor trustee, custodian, or administrator.