South Dakota § 55-3-41 - Qualified person defined.
Full text of South Dakota South Dakota Codified Laws § 55-3-41 — Qualified person defined., with citation guidance and answers to common questions.
§ 55-3-41. Qualified person defined.
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.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 55-3-41
What does South Dakota Codified Laws § 55-3-41 cover?
Section 55-3-41 ("Qualified person defined.") 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 § 55-3-41?
A common citation format is "South Dakota Codified Laws § 55-3-41" (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 § 55-3-41 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.