South Dakota Statutes

§ 51A-15-2 — Ceasing to do business and winding up affairs on voluntary liquidation.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-15 SUSPENSION AND LIQUIDATION OF BANKS

Upon approval by the commission, pursuant to § 51A-15-1 , a bank shall forthwith cease to do business, shall have only the powers necessary to effect an orderly liquidation and shall proceed to pay its depositors and creditors and to wind up its affairs.

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South Dakota § 51A-15-2 (Ceasing to do business and winding up affairs on voluntary liquidation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1969, ch 11, § 13.2; SDCL, § 51-27-2.

Nearby Sections

15

§ 51A-1-1

Applicability of provisions--Retention of capital structure by banks.

§ 51A-1-10

False entries--Obstruction of examination--Felonies.

§ 51A-1-11

False filing as misdemeanor.

§ 51A-1-12

Payment or indemnification of person for fine, penalty or judgment unlawful--Civil liability--Exceptions--Action to recover payments.

§ 51A-1-13

Misappropriation of funds or information by officer, director, or employee as felony.

§ 51A-1-14

Receipt, possession, or sale of misappropriated funds or information as felony.

§ 51A-1-15

Acknowledgments by officers or employees of banks validated.

§ 51A-1-16

Severability of provisions.

§ 51A-1-17

No duty to disclose information about customers--Exceptions.

§ 51A-1-18

Agreements or compacts with other jurisdictions--Administration--Filing--Availability.

§ 51A-1-19

Central bank digital currency--Public transaction prohibited.

§ 51A-1-2

Definition of terms.

§ 51A-1-20

Central bank digital currency--Private transaction--Alternative required.

§ 51A-1-3

Adverse claims against bank deposits, contents of safe deposit box or property in safekeeping.

§ 51A-1-4

Disqualification of officer, employee or director for violation--Civil liability.

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