South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:07 - BANKING
Chapter 20:07:16 - Bank subsidiaries
Section 20:07:16:06 - When prior approval required

Universal Citation: SD Admin Rules 20:07:16:06
Current through Register Vol. 50, page 114, March 25, 2024

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.

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

Law Implemented: SDCL 51A-2-25, 51A-4-1.

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