South Dakota § 51A-12-4 Loan to customer used for partnership or corporation.

South Dakota Statutes

§ 51A-12-4 — Loan to customer used for partnership or corporation.

South Dakota § 51A-12-4

Title 51ABANKS AND BANKING

Ch. 51A-11BANK LOANS

This text of South Dakota § 51A-12-4 (Loan to customer used for partnership or corporation.) 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-12-4 (2026).

Text

A loan or other extension of credit to a customer, the proceeds of which the customer intends to place in a partnership in which he is a partner or a corporation in which he is a stockholder, is not required to be combined with obligations of the partnership or corporation for the purpose of § 51A-12-2 unless the loan is made in reliance on the assets and repayment ability of the partnership or the corporation.

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A loan or other extension of credit to a customer, the proceeds of which the customer intends to place in a partnership in which he is a partner or a corporation in which he is a stockholder, is not required to be combined with obligations of the partnership or corporation for the purpose of § 51A-12-2 unless the loan is made in reliance on the assets and repayment ability of the partnership or the corporation.