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51A-6A CREATION OF TRUST COMPANIES
CHAPTER 51A-6A

CREATION OF TRUST COMPANIES

51A-6A-1      Definitions.
51A-6A-2      Confidential information.
51A-6A-3      "Community" defined.
51A-6A-4      Application for incorporation--Approval procedure--Emergency procedure.
51A-6A-5      Considerations in ruling on application-Proceedings on application.
51A-6A-5.1      Notice to division of material omission in application or change in facts reported in application.
51A-6A-6      Application fee.
51A-6A-6.1      Repealed.
51A-6A-7      Articles of organization or incorporation--Submission and approval--Required information.
51A-6A-8      Amendment of articles--Extension of existence.
51A-6A-9      Starting date of trust company existence--Commencement of business.
51A-6A-10      Statement of payment of capital--Certificate of organization.
51A-6A-11      Authority to transact business required--Violation as misdemeanor.
51A-6A-11.1      Public trust companies to maintain office and perform trust administration in South Dakota.
51A-6A-12      List of owners--Annual submission to director--Verification of list.
51A-6A-13      Governing board--Membership--Election--Vacancies.
51A-6A-14      Officers of governing board--Bond required.
51A-6A-15      Meetings of governing board--Examination and audit of books and records.
51A-6A-16      Oath of board members.
51A-6A-17      Persons convicted of certain crimes ineligible to serve as board member, officer, or key employee--Civil penalty--Criminal background investigation.
51A-6A-18      Repealed.
51A-6A-19      Determining capital--Minimum--Purpose of capital--Fidelity bond and liability insurance policy.
51A-6A-19.1      Additional capital requirements--Safety and soundness factors to be considered--Effective date of order--Hearing.
51A-6A-19.2      Investments pledged to the division for the security of trust creditors of trust company--Income from investments--Effective date of order requiring pledge increase--Hearing.
51A-6A-19.3      Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation.
51A-6A-20      Payment of subscriptions--Reduction of common stock.
51A-6A-21      Transferring stock and ownership units.
51A-6A-22      Increasing capital stock or ownership units.
51A-6A-23      Registration of capital stock or ownership units.
51A-6A-24      Issuance of preferred stock.
51A-6A-25      Rights and liability of preferred stockholders--Dividends.
51A-6A-26      Issuance of convertible or nonconvertible capital notes or debentures.
51A-6A-27      Source of dividends.
51A-6A-28      Dividends from undivided profits.
51A-6A-29      Powers of trust company.
51A-6A-30      Retention of records--Promulgation of rules--Reproduction of records--Duty of confidentiality.
51A-6A-31      Periodic examination of trust company--Report of examination--Cooperative, coordinating and information-sharing agreements among agencies.
51A-6A-32      Examination of fiduciary affairs of officers or employees--Examination of affiliated companies or corporations.
51A-6A-33      Examination expenses paid by trust companies--Fees.
51A-6A-34      Annual report of trust company to director--Form of report--Request for additional reports.
51A-6A-35      Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director.
51A-6A-36      Service of notice of charges--Contents of notice--Temporary cease and desist order.
51A-6A-37      Revocation of franchise for failure to comply with lawful requirements.
51A-6A-38      Hearing on revocation of trust authority.
51A-6A-39      Confidentiality of information generated by examination--Disclosure--Hearing.
51A-6A-40      Correction of unsafe or unsound condition or operation--Appointment of special assistant--Appeal of appointment.
51A-6A-41      Insolvency defined.
51A-6A-42      Director to take charge of insolvent trust company--Appointment of special assistant.
51A-6A-43      Plan for reorganization of insolvent trust company.
51A-6A-44      Appointment of receiver--Bond--Qualifications--Report--Removal.
51A-6A-45      Powers and duties of receiver--Order of payment of liabilities.
51A-6A-45.1      Liability of receiver.
51A-6A-46      Periodic examination of trust company in the hands of a receiver.
51A-6A-46.1      Suspension, liquidation, order against unsound practice, removal of director or officer, or injunction.
51A-6A-46.2      Confidentiality of information--Inapplicability to certain actions.
51A-6A-47      Acquisition of trust company--Notice to director--Approval--Order of disapproval--Hearing.
51A-6A-48      Contents of notice of proposed acquisition.
51A-6A-49      Reason for disapproval of acquisition.
51A-6A-50      Procedure for merger, consolidation, conversion, or transfer of assets and liabilities to another bank or trust company.
51A-6A-51      Necessity of execution or delivery of deed for merger or consolidation.
51A-6A-52      Fiduciary capacity of successor trust company.
51A-6A-53      Name of trust company--Name change.
51A-6A-54      Approval required for changing place of business--Examination and investigation by director.
51A-6A-55 to 51A-6A-57. Repealed.
51A-6A-58      Establishment of trust service offices--Application.
51A-6A-59, 51A-6A-60. Repealed.
51A-6A-61      Membership in federal reserve bank.
51A-6A-62      Depositing securities into federal reserve bank.
51A-6A-63      Registering investments in name of nominee--Liability of trust company.
51A-6A-64      Common trust funds and collective investment funds.
51A-6A-65      Conversion from state bank to trust company--Application--Investigation--Regulation.
51A-6A-66      Exclusion of entity from chapters 51A-5, 51A-6, and 51A-6A--Governing documents--Notice to director.


Title 51A
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