An Act to authorize banks to engage in business with industrial hemp or marijuana licensees and associated persons.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That a NEW SECTION be added:

51A-4-1.1. Banking with industrial hemp or marijuana licensees and associated persons authorized.

A bank may, directly or through subsidiaries, carry on the business of banking, pursuant to § 51A-4-1, with any person licensed in this state to engage in the business of industrial hemp or marijuana, or with any person engaging in legal business dealings with such licensee.