S.D. Codified Laws § 55-3-41
This is the official text of S.D. Codified Laws § 55-3-41, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Qualified person defined
Official statutory text
For the purposes of § 55-3-39 , the term, qualified person, means:
(1) An individual who, except for brief intervals, military service, attendance at an educational or training institution, or for absences for good cause shown, resides in this state, whose true and permanent home is in this state, who does not have a present intention of moving from this state, and who has the intention of returning to this state when away;
(2) A trust company that is organized under Title 51A or under federal law and that has its principal place of business in this state; or
(3) A bank or savings association that possesses and exercises trust powers, has its principal place of business in this state, and the deposits of which are insured by the Federal Deposit Insurance Corporation.
Source: SL 1998, ch 282, § 22.
(1) An individual who, except for brief intervals, military service, attendance at an educational or training institution, or for absences for good cause shown, resides in this state, whose true and permanent home is in this state, who does not have a present intention of moving from this state, and who has the intention of returning to this state when away;
(2) A trust company that is organized under Title 51A or under federal law and that has its principal place of business in this state; or
(3) A bank or savings association that possesses and exercises trust powers, has its principal place of business in this state, and the deposits of which are insured by the Federal Deposit Insurance Corporation.
Source: SL 1998, ch 282, § 22.
Status: in_force · Read it on the official government site
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