South Dakota § 51A-15-20 Postponement of limitation periods on director's taking actions.

South Dakota Statutes

§ 51A-15-20 — Postponement of limitation periods on director's taking actions.

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

When the director has caused the suspension and taken possession of a bank, there shall be a postponement until six months after the commencement of such possession actions of the date upon which any period of limitation fixed by a statute or agreement would otherwise expire on a claim or right of action of the bank, or upon which an appeal must be taken or a pleading or other document must be filed by the bank in any pending action or proceeding.

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When the director has caused the suspension and taken possession of a bank, there shall be a postponement until six months after the commencement of such possession actions of the date upon which any period of limitation fixed by a statute or agreement would otherwise expire on a claim or right of action of the bank, or upon which an appeal must be taken or a pleading or other document must be filed by the bank in any pending action or proceeding.

South Dakota § 51A-15-20 (Postponement of limitation periods on director's taking actions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.