South Dakota § 51A-3-9 Conditions to be considered in ruling on application.

South Dakota Statutes

§ 51A-3-9 — Conditions to be considered in ruling on application.

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

In ruling upon any bank application required in § 51A-2-16 , the director or the commission, as the case may be, shall consider the following conditions:

(1)The financial history and condition of the applicant;

(2)The adequacy of the applicant's financial structure;

(3)The future earning prospects of the applicant;

(4)The general character and fitness of the management and ownership of the applicant;

(5)The applicant's ability to serve the community as described in the application; and (6) Such other facts and circumstances as in the opinion of the director or commission may be relevant. In any hearing before the commission on an application, the director shall submit to the commission for its consideration pursuant to § 51A-3-10 the director's findings with respect

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In ruling upon any bank application required in § 51A-2-16 , the director or the commission, as the case may be, shall consider the following conditions: (1) The financial history and condition of the applicant; (2) The adequacy of the applicant's financial structure; (3) The future earning prospects of the applicant; (4) The general character and fitness of the management and ownership of the applicant; (5) The applicant's ability to serve the community as described in the application; and (6) Such other facts and circumstances as in the opinion of the director or commission may be relevant. In any hearing before the commission on an application, the director shall submit to the commission for its consideration pursuant to § 51A-3-10 the director's findings with respect to the above conditions together with all other pertinent information in the director's possession.

South Dakota § 51A-3-9 (Conditions to be considered in ruling on application.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1909, ch 222, art 2, § 7; SL 1915, ch 102, art 2, § 9; RC 1919, § 8955; SDC 1939, § 6.0304; SL 1963, ch 23; SDCL § 51-3-7; SL 1969, ch 11, § 3.14; SL 1972, ch 253; SL 1981, ch 346, § 23; SL 1988, ch 377, § 65; SDCL § 51-17-15; SL 2008, ch 252, § 12.