Chapter 6A - CREATION OF TRUST COMPANIES

Section 51A-6A-1 - Definitions
Section 51A-6A-2 - Confidential information
Section 51A-6A-3 - "Community" defined
Section 51A-6A-4 - Application for incorporation-Approval procedure-Emergency procedure
Section 51A-6A-5 - Considerations in ruling on application-Proceedings on application
Section 51A-6A-5.1 - Notice to division of material omission in application or change in facts reported in application
Section 51A-6A-6 - Application fee
Section 51A-6A-6.1 - [Repealed]
Section 51A-6A-7 - Organization of public and private trust companies-Submission and approval of articles-Required information
Section 51A-6A-7.1 - Corporation laws applied
Section 51A-6A-8 - Amendment of articles-Extension of existence
Section 51A-6A-9 - Starting date of trust company existence-Commencement of business
Section 51A-6A-10 - Statement of payment of capital-Certificate of organization
Section 51A-6A-11 - Authority to transact business required-Violation as misdemeanor
Section 51A-6A-11.1 - Public trust companies to maintain office and perform trust administration in South Dakota
Section 51A-6A-11.2 - Office space requirements
Section 51A-6A-11.3 - Approval of other office space requirements
Section 51A-6A-12 - List of owners-Annual submission to director-Verification of list
Section 51A-6A-13 - Governing board-Membership-Election-Vacancies
Section 51A-6A-14 - Officers of governing board-Bond required
Section 51A-6A-15 - Meetings of governing board-Examination and audit of books and records
Section 51A-6A-16 - Oath of board members
Section 51A-6A-17 - Persons convicted of certain crimes ineligible to serve as board member, officer, or key employee-Civil penalty-Criminal background investigation
Section 51A-6A-18 - [Repealed]
Section 51A-6A-19 - Determining capital-Minimum-Purpose of capital-Fidelity bond and liability insurance policy
Section 51A-6A-19.1 - Additional capital requirements-Safety and soundness factors to be considered-Effective date of order-Hearing
Section 51A-6A-19.2 - Investments pledged to division for security of trust creditors of trust company-Amount-Income from investments-Pledge increase-Hearing
Section 51A-6A-19.3 - Pledge available to satisfy claims upon liquidation, abandonment of trust powers, or resignation
Section 51A-6A-20 - Payment of subscriptions-Reduction of common stock
Section 51A-6A-21 - Transferring stock and ownership units
Section 51A-6A-22 - Increasing capital stock or ownership units
Section 51A-6A-23 - Registration of capital stock or ownership units
Section 51A-6A-24 - Issuance and retirement of preferred stock
Section 51A-6A-25 - Rights and liability of preferred stockholders-Dividends
Section 51A-6A-26 - Issuance of convertible or nonconvertible capital notes or debentures
Section 51A-6A-27 - Dividends not permitted from required capital
Section 51A-6A-28 - Dividends from undivided profits or surplus
Section 51A-6A-29 - Powers of trust company
Section 51A-6A-29.1 - Permissible business of trust companies
Section 51A-6A-30 - Retention of records-Promulgation of rules-Reproduction of records-Duty of confidentiality
Section 51A-6A-31 - Periodic examination of trust company-Report of examination-Cooperative, coordinating and information-sharing agreements among agencies
Section 51A-6A-32 - Examination of fiduciary affairs of officers or employees-Examination of affiliated companies or corporations
Section 51A-6A-33 - Examination expenses paid by trust companies-Fees
Section 51A-6A-34 - Annual report of trust company to director-Form of report-Request for additional reports
Section 51A-6A-35 - Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director
Section 51A-6A-36 - Service of notice of charges-Contents of notice-Temporary cease and desist order
Section 51A-6A-37 - Revocation of franchise for failure to comply with lawful requirements
Section 51A-6A-38 - Hearing on revocation of trust authority
Section 51A-6A-39 - Confidentiality of information generated by examination-Disclosure-Hearing
Section 51A-6A-40 - Correction of unsafe or unsound condition or operation-Appointment of special assistant-Appeal of appointment
Section 51A-6A-41 - Insolvency defined
Section 51A-6A-42 - Director to take charge of insolvent trust company-Appointment of special assistant
Section 51A-6A-43 - Plan for reorganization of insolvent trust company
Section 51A-6A-44 - Appointment of receiver-Bond-Qualifications-Report-Removal
Section 51A-6A-45 - Powers and duties of receiver-Order of payment of liabilities
Section 51A-6A-45.1 - Liability of receiver
Section 51A-6A-46 - Periodic examination of trust company in the hands of a receiver
Section 51A-6A-46.1 - Suspension, liquidation, order against unsound practice, removal of director or officer, or injunction
Section 51A-6A-46.2 - Disclosure of confidential information in certain actions
Section 51A-6A-47 - Acquisition of trust company-Notice to director-Approval-Order of disapproval-Hearing
Section 51A-6A-48 - Contents of notice of proposed acquisition
Section 51A-6A-49 - Reason for disapproval of acquisition
Section 51A-6A-50 - Procedure for merger, consolidation, conversion, or transfer of assets and liabilities to another bank or trust company
Section 51A-6A-50.1 - Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company
Section 51A-6A-51 - Necessity of execution or delivery of deed for merger or consolidation
Section 51A-6A-52 - Fiduciary capacity of successor trust company
Section 51A-6A-53 - Name of trust company-Name change
Section 51A-6A-54 - Approval required for changing place of business-Examination and investigation by director
Section 51A-6A-55 to 51A-6A-57 - [Repealed]
Section 51A-6A-58 - Establishment of trust service offices-Application
Section 51A-6A-59, 51A-6A-60 - [Repealed]
Section 51A-6A-61 - Membership in federal reserve bank
Section 51A-6A-62 - Depositing securities into federal reserve bank
Section 51A-6A-63 - Registering investments in name of nominee-Liability of trust company
Section 51A-6A-64 - Common trust funds and collective investment funds
Section 51A-6A-65 - [Repealed]
Section 51A-6A-66 - Exclusion of entity from chapters 51A-5 and 51A-6A-Governing documents-Notice to director
Section 51A-6A-67 - Trust company receivership and liquidation captive insurance company fund