51A-5-2. Bank as trustee or custodian for retirement benefit plans.
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/sd/title-51/chapter-51-5/51a-5-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.