South Dakota § 51A-10-1 "Deposit" or "deposits" defined.

South Dakota Statutes

§ 51A-10-1 — "Deposit" or "deposits" defined.

South Dakota § 51A-10-1

Title 51ABANKS AND BANKING

Ch. 51A-10BANK DEPOSITS

This text of South Dakota § 51A-10-1 ("Deposit" or "deposits" defined.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 51A-10-1 (2026).

Text

The word "deposit" or "deposits" shall be construed to be the unpaid balance of money or its equivalent, including "deposits subject to check"; "dividends unpaid"; "savings deposits"; "special deposits"; "trust deposits"; "certified checks" and "cashier's checks outstanding"; "demand certificates of deposit"; "time certificates of deposit"; "collections made but not remitted"; and "due to other banks," on which the bank is primarily liable except "overdrafts on correspondents"; or other terms of like import. If any bank has borrowed money on its bills payable, pursuant to a contract which grants permission to the loaning bank to appropriate and to apply any credit balance which the books of the loaning bank show to be due or owing to the borrowing bank, to be credited on such bills payable

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The word "deposit" or "deposits" shall be construed to be the unpaid balance of money or its equivalent, including "deposits subject to check"; "dividends unpaid"; "savings deposits"; "special deposits"; "trust deposits"; "certified checks" and "cashier's checks outstanding"; "demand certificates of deposit"; "time certificates of deposit"; "collections made but not remitted"; and "due to other banks," on which the bank is primarily liable except "overdrafts on correspondents"; or other terms of like import. If any bank has borrowed money on its bills payable, pursuant to a contract which grants permission to the loaning bank to appropriate and to apply any credit balance which the books of the loaning bank show to be due or owing to the borrowing bank, to be credited on such bills payable without regard to the date of maturity thereof, the money received on such bills payable by such borrowing banks shall be deemed "deposits."

Legislative History

SL 1915, ch 102, art 2, § 30; RC 1919, § 8977; SDC 1939, § 6.0412; SDCL, § 51-10-1; SL 1969, ch 11, § 8.1; SL 1970, ch 265, § 42; SL 1988, ch 377, § 134; SDCL, § 51-22-1.