The following entities are exempt from the provisions of this chapter:
- (1) Any state bank and its subsidiary;
- (2) Any national bank and its subsidiary;
- (3) Any bank holding company and its subsidiary;
- (4) Any other federally insured financial institution, its holding company and subsidiary; and
- (5) Any South Dakota chartered trust company.
Source: SL 1998, ch 280 , § 2; SL 1999, ch 239 , § 1; SL 2004, ch 292 , § 1.