ARSD 20:07:03 – Internal Management of Banks | Midpage

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Administrative Rules of South Dakota

Chapter 20:07:03

ARSD 20:07:03

Internal Management of Banks

20:07:03:01Bonds required.20:07:03:01.01Void.20:07:03:02Blanket bond schedule.20:07:03:03Copy of resolution required.20:07:03:03.01Accounting principles.20:07:03:04Records required.20:07:03:06Chief executive officer of banks to be board member.20:07:03:07Accounting for advances to borrowers.20:07:03:09Accounting for late payments -- Installment note and conditional sales contract with acceleration clause.20:07:03:10Accrual accounting.20:07:03:11Requirements for issuing securities.20:07:03:12Authorized general investments.20:07:03:12.01Investment in mutual funds.20:07:03:16Charge-off requirements.20:07:03:17Allowance for loan and lease losses.20:07:03:18Board member involvement required.20:07:03:18.01Number and frequency of board meetings -- Exception.20:07:03:23Loans made with the assistance of third parties.20:07:03:24Investment in federal home loan bank.20:07:03:25Time limit allowed on overdrafts.20:07:03:26Bank borrowings.