Ownership of stock in clearing corporation not required for deposit of securities by fiduciary or custodian

Sections 51A-5-21 to 51A-5-24 , inclusive, apply to any fiduciary holding securities in its fiduciary capacity, and to any bank holding securities as a custodian, managing agent or custodian for a fiduciary, regardless of the date of the agreement, instrument, or court order by which it is appointed and regardless of whether or not the fiduciary, custodian, managing agent, or custodian for a fiduciary owns capital stock of the clearing corporation. Source: SL 1978, ch 357 , § 4; SDCL, § 51-19-10.2; SL 2021, ch 203 , § 6.