SB 9 expands the powers of South Dakota banks that operate trust departments by clarifying and broadening the specific roles they can take on—such as acting as agents, custodians, registrars, trustees, and fiduciaries for individuals, corporations, and public entities. The bill updates existing law to ensure banks have explicit authority to handle property management, securities transfers, and other trust-related services that were previously unclear or limited.
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 Amended 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. 119
Senate Do Pass Amended Passed, YEAS 34, NAYS 0. S.J. 96
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Amended Passed, YEAS 9, NAYS 0.
Commerce and Energy Motion to amend
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 12
Commerce and Energy — Do Pass
Commerce and Energy — Do Pass Amended