51A-7-13. Definition of terms.

Terms used in §§ 51A-7-13 to 51A-7-26, inclusive, mean:

(1)    "Acquisition of a branch," the acquisition of a branch located in a host state;

(2)    "Bank," a bank as defined in 12 U.S.C. § 1813(h) as of January 1, 1996. The term does not include any foreign bank as defined in § 12 U.S.C. 3101(7) as of January 1, 1996. However, the term includes any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation;

(3)    "Bank supervisory agency," any agency of another state with primary responsibility for chartering and supervising banks, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any successor to these agencies;

(4)    "Branch," a branch bank as defined by subdivision 51A-1-2(7);

(5)    "Director," the director of the Division of Banking;

(6)    "Control," control as construed consistently with the provisions of 12 U.S.C. § 1841(a)(2) as of January 1, 1996;

(7)    "Home state," for a state bank, the state by which the bank is chartered; for a national bank, the state in which the main office of the bank is located; and for a foreign bank, the state determined to be the home state of the foreign bank pursuant to 12 U.S.C. § 3103(c) as of January 1, 1996;

(8)    "Home state regulator," for an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered;

(9)    "Host state," a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch;

(10)    "Out-of-state bank," a bank whose home state is a state other than South Dakota;

(11)    "Out-of-state state bank," a bank chartered under the laws of any state other than South Dakota;

(12)    "State," any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands;

(13)    "South Dakota state bank," a bank chartered under the laws of South Dakota; and

(14)    "Commission," the State Banking Commission for South Dakota.

Source: SL 1996, ch 280, § 1; SL 2021, ch 204, § 2.