A bank authorized to exercise trust powers may act as fiduciary in any capacity, including, but without limitation, registrar or transfer agent, fiscal agent or attorney in fact, and as having the power to receive and apply sinking funds.
S.D. Codified Laws § 51A-5-3
Fiduciary authority of bank authorized by charter to exercise trust powers
Source: SL 1911, ch 255, § 17; RC 1919, § 9047; SDC 1939, § 6.0501 (1) to (4), (6); SDCL, §§ 51-7-4 to 51-7-8; SL 1969, ch 11, § 5.2; SL 1988, ch 377, § 111; SDCL, § 51-19-2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.