South Dakota Statutes
§ 51A-12-14 — Right of offset on loans.
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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South Dakota § 51A-12-14 (Right of offset on loans.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1981, ch 346, § 61; SDCL, § 51-24-15.