Board Information
Authorization:
Chapter 51A-2
Activities:
Establishes interest rates, approves opening of new banks, and regulates state banks.
Organization:
Administered under the Department of Labor and Regulation
Composition:
Five members appointed by the Governor:
(1) Three members shall be officers or directors of a state or national bank
at the time of and during their appointment. Not more than one member
may be an officer or director of a national bank at the time of appointment.
(2) Two members need not be officers or directors of a bank, nor associated
in any way with the business of banking.
Term of Appointment:
Terms shall expire on October 30 on the third year of appointment. Terms that end June 30,
2012, are extended to October 30, 2012. * No term limits
Frequency of Meetings:
As needed
Are Members Allowed to Call into Meetings:
Yes
Contact Info:
Bret Afdahl, Director
Division of Banking
SD Department of Labor and Regulation
1601 N. Harrison Avenue, Suite 1
Pierre, SD 57501
Phone: 605.773.3421
Fax: 866.326.7504
email: banking@state.sd.us