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25 chapters · 550 sections in this title.
SDCL § 55-6-1 Establishment and maintenance of common trust funds and collective investment funds--Purpose
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Any bank or trust company qualified to act as fiduciary in this state may establish common trust funds or collective investment funds for the purpose of furnishing investments to itself as fiduciary, or to itself and others, as cofiduciaries. Any common trust fund or collective i…
SDCL § 55-6-1.1 Common trust fund defined
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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. Source: SL 2011, ch 212 , § 28.
SDCL § 55-6-1.2 Collective investment fund defined
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For purposes of this chapter, the term, collective investment fund, is a fund as defined in 12 C.F.R. 9.18(a)(2) as of January 1, 2011, and is provided exemption from taxation according to Internal Revenue Service, Revenue Ruling 81-100, published March 30, 1981. Source: SL 2011,…
SDCL § 55-6-2 Bank or trust company investment in funds
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Any bank or trust company qualified to act as fiduciary in this state may, as such fiduciary or cofiduciary, invest funds which it lawfully holds for investment in interests in common trust funds or collective investment funds established pursuant to § 55-6-1 , if such investment…
