South Dakota § 51A-17-87 Report of bankruptcy, administrative proceeding, or revocation or suspension of license.

South Dakota Statutes

§ 51A-17-87 — Report of bankruptcy, administrative proceeding, or revocation or suspension of license.

South Dakota § 51A-17-87

Title 51ABANKS AND BANKING

Ch. 51A-16MONEY TRANSMISSION

This text of South Dakota § 51A-17-87 (Report of bankruptcy, administrative proceeding, or revocation or suspension of license.) 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-17-87 (2026).

Text

(1)A licensee must file a report with the director within one business day after the licensee has reason to know of the occurrence of any of the following events:

(a)The filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. § 101-110 (January 1, 2024) for bankruptcy or reorganization;

(b)The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; or (c) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.

(2)A licensee must file a report with the dir

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(1) A licensee must file a report with the director within one business day after the licensee has reason to know of the occurrence of any of the following events: (a) The filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. § 101-110 (January 1, 2024) for bankruptcy or reorganization; (b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; or (c) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed. (2) A licensee must file a report with the director within three business day after the licensee has reason to know of the occurrence of any of the following events: (a) A charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or (b) A charge or conviction of an authorized delegate for a felony.