South Dakota Codified Laws 51A-5-2. Bank as trustee or custodian for retirement benefit plans
Current as of: 2023 | Check for updates
|
Other versions
Pursuant to rules of the commission and the terms of Public Law 93-406, the Employees Retirement Income Security Act of 1974 and the Self–employed Individuals Tax Retirement Act of 1962, a bank may act as trustee or custodian for individual retirement accounts, HR 10 Keogh accounts or both such accounts, or any other pension, profit–sharing, money purchase, or other retirement benefit plan.
Terms Used In South Dakota Codified Laws 51A-5-2
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Trustee: A person or institution holding and administering property in trust.
Source: SDCL, § 51-19-1 as added by SL 1975, ch 291; SL 1981, ch 346, § 40; SL 1988, ch 377, § 110; SDCL, § 51-19-1.1.