S.D. Admin. R. 20:07:16:06

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

Section 20:07:16:06 - When prior approval required

A bank may acquire, make an investment in, or organize a bank subsidiary without prior application to or the consent of the division. A bank acquiring, making an investment in, or organizing a bank subsidiary shall notify the division in writing of such action at least 10 business days prior to the first operation of the subsidiary.

S.D. Admin. R. 20:07:16:06

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-2-25, 51A-4-1.