6:02:01:01. Definitions. Terms defined in SDCL 4-6A-1 have the same meaning when used in this article. In addition, terms used in this article mean:
(1) "FDIC," the Federal Deposit Insurance Corporation as described in 12 U.S.C.A. § 1811 et seq.;
(2) "Report of condition," the report filed with the FDIC listing total assets and liabilities of banks within this state;
(3) "Custodian," any financial institution that has facilities for the safekeeping of securities which have been accepted by the commission under SDCL chapter 4-6A to secure uninsured public deposits, a federal home loan bank that advances credit to collateralize public deposits, or an insurance company or surety company authorized to transact the business of a surety in this state and guarantee public deposits by the issuance of a bond.
Source: 2 SDR 51, effective January 13, 1976; 24 SDR 93, effective January 12, 1998.
General Authority:SDCL 4-6A-20.
