South Dakota § 51A-3-37 Bonds of officers and employees.

South Dakota Statutes

§ 51A-3-37 — Bonds of officers and employees.

South Dakota § 51A-3-37

Title 51ABANKS AND BANKING

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

This text of South Dakota § 51A-3-37 (Bonds of officers and employees.) 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-3-37 (2026).

Text

The directors of a bank shall direct and require good and sufficient fidelity bonds on all active officers and employees, whether or not they draw salaries or compensation, which bonds shall provide for indemnity to such bank on account of any losses sustained by it as a result of any dishonest, fraudulent, or criminal act or omission committed or omitted by them acting independently or in collusion or combination with any person or persons. Such bonds may be in individual, schedule, or blanket bond form, and the premiums therefor may be paid by the bank.

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The directors of a bank shall direct and require good and sufficient fidelity bonds on all active officers and employees, whether or not they draw salaries or compensation, which bonds shall provide for indemnity to such bank on account of any losses sustained by it as a result of any dishonest, fraudulent, or criminal act or omission committed or omitted by them acting independently or in collusion or combination with any person or persons. Such bonds may be in individual, schedule, or blanket bond form, and the premiums therefor may be paid by the bank.

Legislative History

SL 1909, ch 222, art 2, § 9; SL 1915, ch 102, art 2, § 11; RC 1919, § 8957; SL 1925, ch 96; SL 1933 (SS), ch 4; SL 1935, ch 58; SDC 1939, § 6.0318; SDCL, § 51-3-20; SL 1969, ch 11, § 3.29; SDCL, § 51-17-36.