CHAPTER 253

(HB 1035)

Remote service banking regulated.

         ENTITLED, An Act to  revise certain provisions regarding the regulation of remote service banking.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  That chapter 51A-8 be amended by adding thereto a NEW SECTION to read as follows:

     No person other than a national bank, a bank organized under the laws of this or any state, a savings and loan association or savings bank organized under the laws of the United States or this or any state, or a credit union organized under the laws of the United States, may accept deposits through the use of remote service units.

     Section  2.  That § 51A-8-2 be repealed.

     Section  3.  That § 51A-8-3 be repealed.

     Section  4.  That § 51A-8-4 be repealed.

     Section  5.  That § 51A-8-6 be repealed.

     Section  6.  That § 51A-8-7 be repealed.

     Section  7.  That § 51A-8-8 be repealed.

     Signed February 2, 2005

_______________