South Dakota § 51A-2-18 Examination of banks by director--Substitution for examination requirements.

South Dakota Statutes

§ 51A-2-18 — Examination of banks by director--Substitution for examination requirements.

South Dakota § 51A-2-18

Title 51ABANKS AND BANKING

Ch. 51A-2DIVISION OF BANKING

This text of South Dakota § 51A-2-18 (Examination of banks by director--Substitution for examination requirements.) 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-2-18 (2026).

Text

The director shall examine, at least once in every two calendar years, and at such other times that he may deem necessary, all of the affairs of each bank and its subsidiaries. In order to determine how frequently to examine a bank, he may establish a system of classifying banks, based on their current examination, and examine different classes with varying frequency. The director may substitute an examination conducted by the Federal Deposit Insurance Corporation or the federal reserve system for an examination required by this section.

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The director shall examine, at least once in every two calendar years, and at such other times that he may deem necessary, all of the affairs of each bank and its subsidiaries. In order to determine how frequently to examine a bank, he may establish a system of classifying banks, based on their current examination, and examine different classes with varying frequency. The director may substitute an examination conducted by the Federal Deposit Insurance Corporation or the federal reserve system for an examination required by this section.

Legislative History

SL 1909, ch 222, art 1, § 4; SL 1911, ch 256, § 4; SL 1915, ch 102, art 1, § 4; RC 1919, § 8920; SL 1935, ch 56; SDC 1939, § 6.0215; SDCL, §§ 51-12-7, 51-12-10; SL 1969, ch 11, § 2.14; SL 1970, ch 265, § 8; SL 1978, ch 350, § 4; SL 1981, ch 346, § 8; SL 1988, ch 377, § 34; SDCL, § 51-16-21.