Home/South Dakota/Statutes/Title 51A: BANKS AND BANKING/Ch. 51A-15: SUSPENSION AND LIQUIDATION OF BANKS/§ 51A-15-21
South Dakota Statutes

§ 51A-15-21 — Director's authority to take action in emergency without majority consent of commission.

South Dakota § 51A-15-21
JurisdictionSouth Dakota
Title 51ABANKS AND BANKING
Ch. 51A-15SUSPENSION AND LIQUIDATION OF BANKS

This text of South Dakota § 51A-15-21 (Director's authority to take action in emergency without majority consent of commission.) 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-15-21 (2026).

Text

If, in the opinion of the director, an emergency exists which will result in serious losses to the depositors and creditors, he may suspend all activities and take possession of a bank without the consent of a majority of the members of the commission.

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Legislative History

SL 1969, ch 11, § 13.7 (1); SL 1982, ch 336, § 3; SL 1988, ch 377, § 168; SDCL, § 51-27-14.

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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Bluebook (online)
South Dakota § 51A-15-21, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/51A-15-21.