South Dakota § 51A-6A-9 Starting date of trust company existence--Commencement of business.

South Dakota Statutes

§ 51A-6A-9 — Starting date of trust company existence--Commencement of business.

South Dakota § 51A-6A-9

Title 51ABANKS AND BANKING

Ch. 51A-6ACREATION OF TRUST COMPANIES

This text of South Dakota § 51A-6A-9 (Starting date of trust company existence--Commencement of business.) 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-9 (2026).

Text

The existence of any trust company shall date from the filing of its articles from which time it shall have and may exercise the incidental powers conferred by law upon corporations or limited liability companies, as applicable. However, no trust company may transact any business except the election of officers, the taking and approving of their official bonds, the receipts of payment upon stock subscriptions, and other business incidental to its organization, until it has secured the required approval and the authorization of the director to commence business.

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

The existence of any trust company shall date from the filing of its articles from which time it shall have and may exercise the incidental powers conferred by law upon corporations or limited liability companies, as applicable. However, no trust company may transact any business except the election of officers, the taking and approving of their official bonds, the receipts of payment upon stock subscriptions, and other business incidental to its organization, until it has secured the required approval and the authorization of the director to commence business.