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

South Dakota Statutes

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

South Dakota § 51A-3-8

Title 51ABANKS AND BANKING

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

This text of South Dakota § 51A-3-8 (Acceptance of application for charter.) 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-3-8 (2026).

Text

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.