South Dakota § 51A-1-1 Applicability of provisions--Retention of capital structure by banks.

South Dakota Statutes

§ 51A-1-1 — Applicability of provisions--Retention of capital structure by banks.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-1 DEFINITIONS, GENERAL PROVISIONS AND PENALTIES

Any bank, branch bank, drive - in facility, bank service corporation or other entity by its term subject to this title, is subject to this title, except that the legality of their organization under prior law is not affected by this title. Banks may retain their capital structure. However the director may order any bank to comply with the capitalization requirements of this title or such additional amounts as he deems necessary upon a finding by him that the sound conduct of banking will be jeopardized by the retention of such prior capital structure.

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Any bank, branch bank, drive - in facility, bank service corporation or other entity by its term subject to this title, is subject to this title, except that the legality of their organization under prior law is not affected by this title. Banks may retain their capital structure. However the director may order any bank to comply with the capitalization requirements of this title or such additional amounts as he deems necessary upon a finding by him that the sound conduct of banking will be jeopardized by the retention of such prior capital structure.

South Dakota § 51A-1-1 (Applicability of provisions--Retention of capital structure by banks.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.