South Dakota § 51A-3-32 Board of directors--Number of members--Citizenship requirements--Election.

South Dakota Statutes

§ 51A-3-32 — Board of directors--Number of members--Citizenship requirements--Election.

South Dakota § 51A-3-32

Title 51ABANKS AND BANKING

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

This text of South Dakota § 51A-3-32 (Board of directors--Number of members--Citizenship requirements--Election.) 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-3-32 (2026).

Text

The board of directors of every bank shall consist of not less than five nor more than twenty - five members. At all times, at least three - fourths of the directors shall be citizens of the United States. With the exception of the president or the chief executive officer, the directors shall be elected by the shareholders.

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Legislative History

SDC 1939, § 6.0315; SDCL, § 51-3-13; SL 1969, ch 11, § 3.26; SL 1970, ch 265, § 25; SL 1981, ch 346, § 26; SL 1983, ch 14, § 22; SL 1988, ch 377, § 75; SDCL, § 51-17-29; SL 1996, ch 279, § 1.