This bill updates South Dakota's banking and trust company regulations to clarify how out-of-state banks and trust companies can operate as fiduciaries in the state. The changes update the legal process for serving notices and lawsuits against these companies by directing them to the Secretary of State, and they adjust the definitions and scope of banking rules to align with federal banking standards and the specific services covered.
Signed by the Governor S.J. 232
Delivered to the Governor S.J. 199
Signed by the Speaker H.J. 218
Signed by the President S.J. 174
House of Representatives Do Pass Passed, YEAS 69, NAYS 0. H.J. 180
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 13, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in House and referred to House Commerce and Energy H.J. 109
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 88
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 9, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 12
Do Pass
Commerce and Energy — Do Pass
Commerce and Energy — Do Pass