South Dakota § 51A-3-1.1 - Bank organized as limited liability company--Rules.
Full text of South Dakota South Dakota Codified Laws § 51A-3-1.1 — Bank organized as limited liability company--Rules., with citation guidance and answers to common questions.
§ 51A-3-1.1. Bank organized as limited liability company--Rules.
A bank may be organized as a limited liability company. The commission shall promulgate rules pursuant to chapter 1-26, consistent with Title 51A, for the organization, management, extension of its charter , and general administration of a bank that is organized as a limited liability company. The rules shall facilitate the organization and capital structure, the offering of trust business and the ability to develop branch bank and drive-in facilities, the offering of remote service banking and bank services, the acceptance of deposits and the making of investments, the offering of safe deposit and safe keeping protocols, the making of loans, the reorganization of the limited liability company bank, and the operation of a bank organized as a limited liability company to operate on an equal and parity basis with a bank organized as a corporation.
Source: SL 2004, ch 289, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 51A-3-1.1
What does South Dakota Codified Laws § 51A-3-1.1 cover?
Section 51A-3-1.1 ("Bank organized as limited liability company--Rules.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 51A-3-1.1?
A common citation format is "South Dakota Codified Laws § 51A-3-1.1" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 51A-3-1.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.