§ 20:07:16:07

ARSD 20:07:16:07

Definition of special bank subsidiary.

Effective Jul 1, 198612 SDR 155Source: 12 SDR 106, effective January 1, 1986; 12 SDR 151, 12 SDR 155, effective July 1, 1986. | General Authority: SDCL 51A-2-13 to 51A-2-15. | Law Implemented: SDCL 51A-2-40 , 51A-4-4.

A special bank subsidiary is any subsidiary of a bank which engages in one or more of the following businesses: insurance underwriting, real estate development, or acting as a surety or guarantor.

Source: 12 SDR 106, effective January 1, 1986; 12 SDR 151, 12 SDR 155, effective July 1, 1986.

General Authority: SDCL 51A-2-13 to 51A-2-15.

Law Implemented: SDCL 51A-2-40 , 51A-4-4.