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Code · South Dakota · Title 47 · Chapter 47-9

47-9A-4. Banks and trust companies exempt--Purchase of agricultural land through pooled investment fund excepted.

61 words·~1 min read·/sd/title-47/chapter-47-9/47-9a-4

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Any national or state chartered bank, or trust company, authorized to do business in this state shall be exempt from the provisions of this chapter; provided, however, that no national or state bank or trust company shall purchase agricultural lands in South Dakota through a pooled investment fund formed from assets from retirement, pension, profit sharing, stock bonds or other trusts.
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