South Dakota § 51A-2-37 Examinations of parent corporations by director--Penalty for refusal to allow examination.

South Dakota Statutes

§ 51A-2-37 — Examinations of parent corporations by director--Penalty for refusal to allow examination.

South Dakota § 51A-2-37

Title 51ABANKS AND BANKING

Ch. 51A-2DIVISION OF BANKING

This text of South Dakota § 51A-2-37 (Examinations of parent corporations by director--Penalty for refusal to allow examination.) 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-2-37 (2026).

Text

If the director considers it necessary, the director may examine the books and records of a corporation that holds twenty-five percent or more of the stock of a bank. If any parent corporation of a state chartered bank refuses to give any information required in the course of an examination, that parent corporation is subject to a civil fine of one thousand dollars for each day that the refusal continues. Continued refusal may result in the taking and possession of such bank as provided in § 51A-15-11 .

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If the director considers it necessary, the director may examine the books and records of a corporation that holds twenty-five percent or more of the stock of a bank. If any parent corporation of a state chartered bank refuses to give any information required in the course of an examination, that parent corporation is subject to a civil fine of one thousand dollars for each day that the refusal continues. Continued refusal may result in the taking and possession of such bank as provided in § 51A-15-11 .

Legislative History

SL 1969, ch 11, § 2.28; SL 1970, ch 265, § 15; SL 1980, ch 24, § 84; SL 1981, ch 346, § 18; SL 1983, ch 357; SL 1988, ch 377, § 51; SDCL § 51-16-38; SL 2008, ch 252, § 11.