51A-4 GENERAL POWERS OF BANKS
GENERAL POWERS OF BANKS
Miscellaneous banking powers.
Purchase and sale of securities on order of customer--Contract with securities
brokerage services allowed.
Operation of travel agency.
Insurance business authorized.
Certificate of authority required to engage in banking business--Misdemeanor.
Order to cease and desist for violation--Right to appeal.
Arrest and prosecution for violation.
Deposit insurance required--Federal reserve system membership authorized.
Real property authorized to be held by bank--Maximum book value of premises.
Property authorized to be purchased to satisfy debts--Limitation on period of
Conveyances of real property--Execution by executive officer--Validation of prior
Checks settled at par--Payment from reserve deposits.
Borrowing money by bank--Pledge of assets.
"Bills payable" issued for money borrowed by bank--Record of amount borrowed.
Rediscounting of negotiable paper--Limitation on pledge of assets as security.
Sale, transfer, or assignment of loan participations.
Sale of assets of bank.
Grounds and procedure for nonobservance of banking hours--Extension of hours.
Change in banking hours--Notice to division.
Restriction on use of bank money to purchase other bank stock--Community
investments authorized--Limitation on investment.
"Community development corporation" defined.
Qualification of community development corporation as permissible investment.
Promulgation of rules for investment in community development corporations.
Investments to promote public welfare authorized--Limitations.
Bad debts--Maximum time allowed before charge-off--Overdraft not allowed as
Purchase of retail installment contract--Terms and effect of agreement.
Leasing of personal property by bank--Terms and conditions.
Factoring--Applicability of lending limit provisions.
Bank investments--Restrictions set by rule--Limitations.
Exceptions to investment limitation--Purchase of federal, state, and municipal
obligations and bonds or interim notes of South Dakota Building Authority.
Investments in agricultural credit corporations and livestock loan companies.
Restricted investment in mortgage banking companies authorized.
Banks authorized to make or purchase loans secured by real estate mortgages--Sale
of loans to Federal National Mortgage Association--Capital contributions.
Investment in federally sponsored housing loans.
51A-4-31 to 51A-4-40. Repealed.
Deposits from Value Added Finance Authority.
Restrictions on purchase of cash value life insurance contracts.
Access to motor vehicle title and lien information on state's computer system.
"Financial Institution" and "Services" defined.
Contracts for services.
Debt cancellation contracts and debt suspension contracts--Fee.