Rules & Regulations

New Vision Trust Company operates in a regulated environment. The company recognizes all current regulations and has developed good relationships with the governmental agencies and departments involved in oversight of the industry and charges with ensuring those under their jurisdiction comply with appropriate laws and regulations.

Rules and Regulations of South Dakota Trust

New Vision Trust Company, as a South Dakota-chartered trust company, adheres to state laws and regulations for establishing situs, which include maintaining office space, holding board meetings, and employing key personnel within South Dakota.

Pursuant to South Dakota Codified Laws, New Vision Trust Company:

  • Maintains office space in Sioux Falls, SD
  • Holds no less than two governing board meetings with a majority physically present in South Dakota annually
  • Employs, engages or contracts with at least one trust officer or key employee physically in South Dakota
  • Conducts specific trust administration duties at our Sioux Falls, SD office

Compliance with SDCL Section 51A-6A-11.1

For accounts under our administration or custody, New Vision Trust Company ensures compliance with SDCL section 51A-6A-11.1 by conducting a minimum of three of the following services partly or wholly within South Dakota.

  • Annual account reviews
  • Investment reviews
  • Trust accountings
  • Account correspondence
  • Completion of trust account tax returns
  • Distribution of account statements

In addition, New Vision Trust Company's office space adheres to specific requirements to ensure operational integrity and regulatory compliance.

  • Distinct premises
  • Prominent display of credentials
  • Facilitated on-site examinations
  • Secure document storage