Any bank desiring to establish a mobile branch bank in the municipality in which the bank has an existing permanent bank or branch bank facility or in any county in this state that does not have a permanent bank or branch bank facility at the time the mobile branch bank is first established shall submit a letter of notice to the director that includes the following:

1. (1) Statement of the area in which the mobile branch bank will operate; and
2. (2) Statement describing the operation of the mobile branch bank.

Source: 32 SDR 38, effective September 6, 2005; 34 SDR 322, effective June 30, 2008.

General Authority: SDCL 51A-2-14(3 )( 4).

Law Implemented: SDCL 51A-1-2(19) , 51A-2-14(3 )( 4).