The sale of surplus federal reserve funds and excess bank funds is not considered loans or obligations and are not subject to any limitation based on capital stock and surplus.
S.D. Codified Laws § 51A-12-10
Sale of surplus federal reserve funds and excess bank funds not loan
Source: SL 1969, ch 11, § 10.4; SDCL, § 51-24-7; SL 1988, ch 377, § 146; SDCL, § 51-24-9.2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.