South Dakota § 51A-3-28 Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.

South Dakota Statutes

§ 51A-3-28 — Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.

South Dakota § 51A-3-28

Title 51ABANKS AND BANKING

Ch. 51A-2ORGANIZATION, APPLICATIONS, AND CAPITAL STRUCTURE OF BANKING CORPORATIONS

This text of South Dakota § 51A-3-28 (Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.) 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-3-28 (2026).

Text

While any indebtedness under § 51A-3-26 exists, all dividends, interest, or profits on such stock, if any, shall be credited by the bank on such indebtedness in the event the bank has exercised its rights to acquire or purchase the stock. The lien hereby created in favor of the bank may be foreclosed by such bank in the manner provided by law for the foreclosure of liens.

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Legislative History

SL 1909, ch 222, art 2, § 43; SL 1911, ch 255, § 22; SL 1915, ch 102, art 2, § 47; RC 1919, §§ 8995, 9052; SDC 1939, § 6.0310; SDCL, §§ 51-4-18, 51-4-19; SL 1969, ch 11, § 3.22; SL 1970, ch 265, § 23; SL 1988, ch 377, § 72; SDCL, § 51-17-25.