South Dakota § 51A-17-73 Acquisition of control--Application--Completion.

South Dakota Statutes

§ 51A-17-73 — Acquisition of control--Application--Completion.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-16 MONEY TRANSMISSION

When an application for acquisition of control under § 51A-17-72 appears to include all the items and address all of the matters that are required, the application shall be considered complete and the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and:

(1)The director shall approve or deny the application within sixty days after the completion date; or (2) If the application is not approved or denied within sixty days after the completion date:

(a)The application is approved; and (b) The person, or group of persons acting in concert, are not prohibited from acquiring control.

(3)The director may for good cause extend the application period.

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When an application for acquisition of control under § 51A-17-72 appears to include all the items and address all of the matters that are required, the application shall be considered complete and the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and: (1) The director shall approve or deny the application within sixty days after the completion date; or (2) If the application is not approved or denied within sixty days after the completion date: (a) The application is approved; and (b) The person, or group of persons acting in concert, are not prohibited from acquiring control. (3) The director may for good cause extend the application period.

South Dakota § 51A-17-73 (Acquisition of control--Application--Completion.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.