South Dakota § 51A-15-31 Executory contracts of bank terminated after commencement of liquidation.

South Dakota Statutes

§ 51A-15-31 — Executory contracts of bank terminated after commencement of liquidation.

South Dakota § 51A-15-31

Title 51ABANKS AND BANKING

Ch. 51A-15SUSPENSION AND LIQUIDATION OF BANKS

This text of South Dakota § 51A-15-31 (Executory contracts of bank terminated after commencement of liquidation.) 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-15-31 (2026).

Text

Within six months of the commencement of involuntary liquidation, the director or receiver may by his election terminate any executory contract for services or advertising to which a bank is a party or any obligation of a bank as a lessee. A lessor who receives sixty days' notice of the director's or receiver's election to terminate such a lease shall have no claim for rent other than rent accrued to the date of termination nor for damages for such termination.

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Within six months of the commencement of involuntary liquidation, the director or receiver may by his election terminate any executory contract for services or advertising to which a bank is a party or any obligation of a bank as a lessee. A lessor who receives sixty days' notice of the director's or receiver's election to terminate such a lease shall have no claim for rent other than rent accrued to the date of termination nor for damages for such termination.