The South Dakota Banking Commission has presented legislation during the 2008 Legislative Session which would reform current South Dakota law relating to the process and criteria which govern the application and approval of branch banks, mobile banks, new charters and changes of control.  

The objectives of the legislation are to (a) reduce the state regulatory process to bring parity in the application process between state and national banks; (b) preserve the attractiveness of a state bank charter to maintain the competitiveness of state banks with national banks; (c) promote competition in banking in South Dakota benefiting both state banks and the consumer; (d) modernize state banking laws to recognize the changes that have taken place in the financial marketplace in the previous 30 years since these statutes were last revised. Read more.

4SB 17 (read bill draft and track bill status)
4Proposed Commission Legislation with Comments (Nov. 7, 2007)
4Memo from Curt Everson to SDBA Members: Oct. 29, 2007
4Short Version of Proposed Commission Legislation with Comments (Oct. 29, 2007)
4South Dakota Banking Law Review
4Memo from Curt Everson to SDBA Members: Sept. 25, 2007