{"data":{"id":"us-sd/sdcl-51a-2-14.1","jurisdiction":"us-sd","citation":"SDCL § 51A-2-14.1","heading":"State chartered banks granted powers allowed federally chartered banks.","body":"Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, expressed or implied, that a state bank has under the laws of this state, a state bank shall have the powers and authorities conferred as of January 1, 2008, upon federally chartered banks doing business in this state. A state bank may exercise the powers and authorities conferred on a federally chartered bank after this date only if the director finds that the exercise of such powers and authorities:\n(1) Serves the convenience and advantage of depositors, borrowers, or the general public; and\n(2) Maintains the fairness of competition and parity between state chartered and federally chartered banks.\nIf the director finds that the before-mentioned conditions have been met, the director shall make a declaratory ruling allowing state banks the same powers and authorities.\nAs used in this section, powers and authorities, include, without limitation, powers and authorities in corporate governance and operational matters.\nSource: SL 1999, ch 233, § 1; SL 2008, ch 252, § 6.","path":["TITLE 51A. BANKS AND BANKING","CHAPTER 51A-2. DIVISION OF BANKING"],"source_url":"https://sdlegislature.gov/Statutes/51A-2-14.1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"437ddc0b8ee3fe151a9d14a8597c42e35eb16e00c7d1dc8539723ac7654b2b45","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-51a-2-14","next":"us-sd/sdcl-51a-2-14.2"},"notice":"GroundRules: Original legal text. Not legal advice."}