No provision of this chapter permits any person, partnership, association, or corporation to identify a newly formed bank, to rename an existing bank, or to open a branch of a newly formed or existing bank, if the effect of such formation, opening, or renaming would be likely to create confusion between the trade name, trademark, service mark, or trade identity of such bank or branch and an existing bank or branch having prior trade name, trademark, service mark, or trade identity rights in the trade area sought to be entered by such newly formed or renamed bank or branch.
S.D. Codified Laws § 51A-7-28
Prohibitions concerning bank names
Applied in 1 court decision — leading case First Western Federal Savings Bank v. First Western Bank Sturgis (2001)
Most recently applied in First Western Federal Savings Bank v. First Western Bank Sturgis (November 2001)
Source: SL 1996, ch 281.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.