<html> <head> <title>Rule 20:07:18:01 Key person defined.</title> <META NAME="Keywords" Content="Administrative Rules 20:07:18:01"> <META NAME="Description" Content="Administrative Rules 20:07:18:01 Key person defined."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:07:18:01.&nbsp;&nbsp;Key person defined.</b> A key person is an executive officer or member of the board of directors determined by the board of directors to be essential to the continued sound operation of the bank based on board review of the person's experience, education, and skills.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 20 SDR 33, effective September 5, 1993.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-13">51A-2-13</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-4-42">51A-4-42.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-4-42">51A-4-42.</A></p> </div> </body> </html>