21.648.15 96th Legislative Session 757

2021 South Dakota Legislature

House Bill 1203

ENROLLED

An Act

ENTITLED 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.

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

I certify that the attached Act originated in the:

House as Bill No. 1203

Chief Clerk

Speaker of the House

Attest:

Chief Clerk

President of the Senate

Attest:

Secretary of the Senate

House Bill No. 1203

File No. ____

Chapter No. ______

Received at this Executive Office

this _____ day of _____________,

2021 at ____________M.

By

for the Governor

The attached Act is hereby

approved this ________ day of

______________, A.D., 2021

Governor

STATE OF SOUTH DAKOTA,

ss.

Office of the Secretary of State

Filed ____________, 2021

at _________ o'clock __M.

Secretary of State

By

Asst. Secretary of State