South Dakota § 51A-12-14 Right of offset on loans.

South Dakota Statutes

§ 51A-12-14 — Right of offset on loans.

South Dakota § 51A-12-14

Title 51ABANKS AND BANKING

Ch. 51A-11BANK LOANS

This text of South Dakota § 51A-12-14 (Right of offset on loans.) 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-12-14 (2026).

Text

In addition to the general lien created by § 44-11-11 in favor of a bank on all property in possession of the bank belonging to its customers, a bank may offset against all loan balances, whether principal or interest, owed to the bank by a customer, all or any portion of the bank's obligation to the customer in the form of certificates of deposit, time savings certificates and any other form of deposit.

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In addition to the general lien created by § 44-11-11 in favor of a bank on all property in possession of the bank belonging to its customers, a bank may offset against all loan balances, whether principal or interest, owed to the bank by a customer, all or any portion of the bank's obligation to the customer in the form of certificates of deposit, time savings certificates and any other form of deposit.