ARSD § 64:26:03:13 — Filing of separate returns of financial institutions

64:26:03:13. Filing
of separate returns of financial institutions. To determine if financial
institutions sharing a common parent, such as a bank holding company, shall be
required to file separate returns, the secretary shall consider the following
factors:
(1) Whether there is a separate charter for each
financial institution;
(2) The extent of the flow of goods and services
between an institution and its parent;
(3) Whether management oversight by the parent
is limited to strategic decisions affecting the operation of all subsidiaries
generally, not individual institutions;
(4) Whether there would be distortion of county
income through the use of loss deductions incurred by institutions not doing
business in the affected county;
(5) The presence or absence of common
administrative officers or procedures; or
(6) Whether each institution is conducting
business in a manner consistent with separate entities.