For purposes of this chapter, the term, common trust fund, is a fund as defined in 12 C.F.R. 9.18(a)(1) as of January 1, 2011, and is provided exemption from taxation according to 26 U.S.C. 584 as of January 1, 2011.
S.D. Codified Laws § 55-6-1.1
Common trust fund defined
Known as the Uniform Common Trust Fund Act
The act spans §§ 55-6-1–55-6-7 (10 sections).
Source: SL 2011, ch 212, § 28.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.