South Dakota § 51A-17-75 Acquisition of control--Application--Investigation.

South Dakota Statutes

§ 51A-17-75 — Acquisition of control--Application--Investigation.

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

When an application for acquisition of control under § 51A-17-72 is filed and considered complete under § 51A-17-73 , the director must investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the person, or group of persons acting in concert, seeking to acquire control. The director shall approve an acquisition of control pursuant to this § 51A-17-72 if the director finds that all of the following conditions have been fulfilled:

(1)The requirements of subdivisions 51A-17-72 (2) and (4) have been met, as applicable; and (2) The financial condition and responsibility, financial and business experience, competence, character, and general fitness of the person, or group of persons acting in concert, seeking to acquire

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When an application for acquisition of control under § 51A-17-72 is filed and considered complete under § 51A-17-73 , the director must investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the person, or group of persons acting in concert, seeking to acquire control. The director shall approve an acquisition of control pursuant to this § 51A-17-72 if the director finds that all of the following conditions have been fulfilled: (1) The requirements of subdivisions 51A-17-72 (2) and (4) have been met, as applicable; and (2) The financial condition and responsibility, financial and business experience, competence, character, and general fitness of the person, or group of persons acting in concert, seeking to acquire control; and the competence, experience, character, and general fitness of the key individuals and persons that would be in control of the licensee after the acquisition of control indicate that it is in the interest of the public to permit the person, or group of persons acting in concert, to control the licensee.

South Dakota § 51A-17-75 (Acquisition of control--Application--Investigation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.