News

New “Dealer Trust” Law — How Will It Impact Your Bank?

New “Dealer Trust” Law — How Will It Impact Your Bank?

Near the end of 2020, the “Consolidated Appropriations Act” became law. As suggested by the title to the Act, it included a potpourri of legislative actions, many of which were designed to provide COVID-19 relief. One of the measures adopted as part of the Act amended...

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COVID Vaccines at Work

COVID Vaccines at Work

With COVID-19 vaccinations being distributed and administered around the country, the Equal Employment Opportunity Commission (EEOC) recently issued guidance to employers as they consider implementing vaccine-related policies in the workplace. Becoming familiar with...

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2021 Estate Gift Tax Exclusions

2021 Estate Gift Tax Exclusions

The lifetime estate exclusion amount (also sometimes called the estate tax exemption amount, the applicable exclusion amount, or the unified credit amount) has been increased for inflation beginning January 1, 2021. Applicable Exclusion Amount Under the 2010 Tax...

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Davenport Evans Announces New Partner Joel Rische

Davenport Evans Announces New Partner Joel Rische

Davenport, Evans, Hurwitz & Smith, LLP is pleased to announce that Joel R. Rische has become a partner in the firm. Joel R. Rische, is a member of the firm’s litigation section, having joined the firm in 2015. Joel’s focus is on commercial litigation in both state...

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FFCRA Leave Expires December 31, 2020

FFCRA Leave Expires December 31, 2020

On Sunday, December 27, 2020, President Trump signed COVID-19 relief legislation providing government funding and a long-anticipated coronavirus relief package. The wide-sweeping legislation contains the answer to the question employers have been asking for weeks—do...

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Preparing to Bank Hemp and Marijuana in South Dakota

Preparing to Bank Hemp and Marijuana in South Dakota

Hemp production has been legalized under both Federal and South Dakota law, and to the surprise of many, South Dakota voters recently approved a constitutional amendment legalizing marijuana.  Bankers are already experiencing deposit-opening and loan requests from...

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Davenport Evans Welcomes Mary A. Akkerman

Davenport Evans Welcomes Mary A. Akkerman

Davenport, Evans, Hurwitz & Smith, LLP is pleased to announce the addition of attorney Mary A. Akkerman to the firm. Mary Akkerman joined the firm in December and will become a partner in January 2021. Mary has 20 years of experience practicing law in estate...

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What Measure 26 and Amendment A Mean for Employers

What Measure 26 and Amendment A Mean for Employers

On November 3rd, South Dakota voters approved Initiated Measure 26 (IM 26) to legalize medical marijuana and Amendment A to legalize recreational marijuana in South Dakota. Both IM 26 and Amendment A are not set to take effect until July 1, 2021. However, on November...

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What to Know About Monitoring Remote Workers

What to Know About Monitoring Remote Workers

Like other employers, financial institutions have worked to be flexible during the global COVID-19 pandemic by allowing employees to work remotely. With a growing remote workforce, many are enlisting the help of employee monitoring systems to oversee the devices used...

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A South Dakota Series LLC – Could It Be Right For You?

A South Dakota Series LLC – Could It Be Right For You?

The South Dakota Legislature recently passed laws allowing for the formation of “Series LLCs” in South Dakota. In doing so, it joins a number of other states and jurisdictions allowing Series LLCs to be formed, including Alabama, Arkansas, Delaware, the District of...

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Davenport Evans Welcomes Alayna A. Holmstrom

Davenport Evans Welcomes Alayna A. Holmstrom

Davenport, Evans, Hurwitz & Smith, LLP is pleased to announce the addition of a new attorney, Alayna A. Holmstrom, to the firm. A native of Rapid City, South Dakota, Alayna Homstrom joined the firm as an associate attorney in September 2020. She is a graduate of the...

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New Regulations Provide Relief for Usury Headache

New Regulations Provide Relief for Usury Headache

It is a truism in banking that federal regulations are a burden for the industry, and bankers often cite compliance with federal regulations as a significant burden. In a rare exception to that truism, the Office of the Comptroller of the Currency and the Federal...

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