Regulatory Alerts2020-01-01
South Dakota Division of Banking Memorandum on House Bill 1047
The South Dakota Division of Banking issued Memorandum 20-018 to inform regulated entities of changes enacted by House Bill 1047. This legislation reduces the public comment period for bank and trust company applications from 30 to 15 days and shortens the Director's decision period from 45 to 30 days. These adjustments aim to minimize delays between federal and state approval processes while maintaining existing public notice and objection opportunities.
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