South Dakota § 51A-3-8 Acceptance of application for charter.

South Dakota Statutes

§ 51A-3-8 — Acceptance of application for charter.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-2 ORGANIZATION, APPLICATIONS, AND CAPITAL STRUCTURE OF BANKING CORPORATIONS

The director shall notify the incorporators of his acceptance for filing of an application. If the application and accompanying documents required in § 51A-3-7 do not conform to the requirements of this title, or the rules of the commission, the director shall return the application calling attention to the defects therein. However, if the director does not act within twenty days of his receipt thereof, the application is considered to have been accepted by him.

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The director shall notify the incorporators of his acceptance for filing of an application. If the application and accompanying documents required in § 51A-3-7 do not conform to the requirements of this title, or the rules of the commission, the director shall return the application calling attention to the defects therein. However, if the director does not act within twenty days of his receipt thereof, the application is considered to have been accepted by him.

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