Section 51A-5-22 - Ownership of stock in clearing corporation not required for deposit of securities byfiduciary or custodian.
51A-5-22. Ownership of stock in clearing corporation not required for deposit of securities by fiduciary or custodian. Sections 51A-5-21 to 51A-5-24, inclusive, shall apply to any fiduciary holding securities in its fiduciary capacity, and to any bank or trust company holding securities as a custodian, managing agent or custodian for a fiduciary, regardless of the date of the agreement, instrument, or court order by which it is appointed and regardless of whether or not such fiduciary, custodian, managing agent, or custodian for a fiduciary owns capital stock of such clearing corporation.
Source: SL 1978, ch 357, § 4; SDCL, § 51-19-10.2.