South Dakota § 58-14-23 Qualified United States financial institution defined for eligibility to act as fiduciary of a trust.

South Dakota Statutes

§ 58-14-23 — Qualified United States financial institution defined for eligibility to act as fiduciary of a trust.

South Dakota § 58-14-23

Title 58INSURANCE

Ch. 58-13REINSURANCE

This text of South Dakota § 58-14-23 (Qualified United States financial institution defined for eligibility to act as fiduciary of a trust.) 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 § 58-14-23 (2026).

Text

A qualified United States financial institution means, for purposes of those provisions of this chapter specifying those institutions that are eligible to act as a fiduciary of a trust, an institution that:

(1)Is organized or, in the case of a United States branch or agency office of a foreign banking organization, licensed under the laws of the United States or any state thereof, and has been granted authority to operate with fiduciary powers; and (2) Is regulated, supervised, and examined by United States federal or state authorities having regulatory authority over banks and trust companies.

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A qualified United States financial institution means, for purposes of those provisions of this chapter specifying those institutions that are eligible to act as a fiduciary of a trust, an institution that: (1) Is organized or, in the case of a United States branch or agency office of a foreign banking organization, licensed under the laws of the United States or any state thereof, and has been granted authority to operate with fiduciary powers; and (2) Is regulated, supervised, and examined by United States federal or state authorities having regulatory authority over banks and trust companies.