S.D. Admin. R. 6:02:01:01

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

Section 6:02:01:01 - Definition

Terms defined in SDCL 4-6A-1 have the same meaning when used in this article. In addition, terms used in this article mean:

(1) "FDIC," the Federal Deposit Insurance Corporation as described in 12 U.S.C.A. § 1811 et seq.;

(2) "Report of condition," the report filed with the FDIC listing total assets and liabilities of banks within this state;

(3) "Custodian," any financial institution that has facilities for the safekeeping of securities which have been accepted by the commission under SDCL chapter 4-6 A to secure uninsured public deposits, a federal home loan bank that advances credit to collateralize public deposits, or an insurance company or surety company authorized to transact the business of a surety in this state and guarantee public deposits by the issuance of a bond.

S.D. Admin. R. 6:02:01:01

2 SDR 51, effective 1/13/1976; 24 SDR 93, effective 1/12/1998.

General Authority: SDCL 4-6A-20.

Law Implemented: SDCL 4-6A-1, 4-6A-3.