S.D. Admin. R. 20:07:16:05

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:07:16:05 - Loans to subsidiaries

Loans to a subsidiary made in the normal course of business shall not be construed as a direct investment in that subsidiary. Maximum loan limitations for individual borrowers provided in SDCL 51A-12-2 apply to subsidiaries of the bank in aggregate. Any bank that exceeds loan limits to its subsidiaries in the aggregate amount must give notice to the division and receive written approval.

S.D. Admin. R. 20:07:16:05

12 SDR 106, effective 1/1/1986; 12 SDR 151, 12 SDR 155, effective 7/1/1986.

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

Law Implemented: SDCL 51A-12-2, 51A-12-7, 51A-12-8.