§ 51A-4-1 Miscellaneous banking powers
§ 51A-4-1.1 Banking with industrial hemp or marijuana licensees and associated persons authorized
§ 51A-4-2 Purchase and sale of securities on order of customer–Contract with securities brokerage services allowed
§ 51A-4-3 Operation of travel agency
§ 51A-4-4 Insurance business authorized
§ 51A-4-5 Certificate of authority required to engage in banking business–Misdemeanor
§ 51A-4-6 Order to cease and desist for violation–Right to appeal
§ 51A-4-7 Arrest and prosecution for violation
§ 51A-4-8 Deposit insurance required–Federal reserve system membership authorized
§ 51A-4-9 Real property authorized to be held by bank–Maximum book value of premises
§ 51A-4-10 Property authorized to be purchased to satisfy debts–Limitation on period of retention
§ 51A-4-12 Checks settled at par–Payment from reserve deposits
§ 51A-4-13 Borrowing money by bank–Pledge of assets
§ 51A-4-14 “Bills payable” issued for money borrowed by bank–Record of amount borrowed
§ 51A-4-15 Rediscounting of negotiable paper–Limitation on pledge of assets as security
§ 51A-4-16 Sale, transfer, or assignment of loan participations
§ 51A-4-17 Sale of assets of bank
§ 51A-4-18 Grounds and procedure for nonobservance of banking hours–Extension of hours
§ 51A-4-19 Change in banking hours–Notice to division
§ 51A-4-20 Restriction on use of bank money to purchase other bank stock–Community investments authorized–Limitation on investment
§ 51A-4-20.1 “Community development corporation” defined
§ 51A-4-20.2 Qualification of community development corporation as permissible investment
§ 51A-4-20.3 Promulgation of rules for investment in community development corporations
§ 51A-4-20.4 Investments to promote public welfare authorized–Limitations
§ 51A-4-21 Bad debts–Maximum time allowed before charge-off–Overdraft not allowed as asset
§ 51A-4-22 Purchase of retail installment contract–Terms and effect of agreement
§ 51A-4-23 Leasing of personal property by bank–Terms and conditions
§ 51A-4-24 Factoring–Applicability of lending limit provisions
§ 51A-4-25 Bank investments–Restrictions set by rule–Limitations
§ 51A-4-25.1 Annuity defined
§ 51A-4-26 Exceptions to investment limitation–Purchase of federal, state, and municipal obligations and bonds or interim notes of South Dakota Building Authority
§ 51A-4-27 Investments in agricultural credit corporations and livestock loan companies
§ 51A-4-28 Restricted investment in mortgage banking companies authorized
§ 51A-4-29 Banks authorized to make or purchase loans secured by real estate mortgages–Sale of loans to Federal National Mortgage Association–Capital contributions
§ 51A-4-30 Investment in federally sponsored housing loans
§ 51A-4-42 Restrictions on purchase of cash value life insurance contracts
§ 51A-4-43 Access to motor vehicle title and lien information on state’s computer system
§ 51A-4-44 Financial institution and services defined
§ 51A-4-45 Contracts for services
§ 51A-4-46 Debt cancellation contracts and debt suspension contracts–Fee

Terms Used In South Dakota Codified Laws > Title 51A > Chapter 4 - General Powers of Banks

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Statute: A law passed by a legislature.
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.