South Dakota § 51A-4-12 Checks settled at par--Payment from reserve deposits.

South Dakota Statutes

§ 51A-4-12 — Checks settled at par--Payment from reserve deposits.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-2 GENERAL POWERS OF BANKS

Except as to any check sent to it as a special collection item, no bank shall settle any check drawn on it otherwise than at par. Any check bearing an out - of - town endorsement shall be, at the option of the drawee bank, payable by draft drawn on the reserve deposits of the drawee bank when any such check is presented by or through any bank, banker, trust company, federal reserve bank, post office, express company, or collective agency, or agents of any of the foregoing.

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Except as to any check sent to it as a special collection item, no bank shall settle any check drawn on it otherwise than at par. Any check bearing an out - of - town endorsement shall be, at the option of the drawee bank, payable by draft drawn on the reserve deposits of the drawee bank when any such check is presented by or through any bank, banker, trust company, federal reserve bank, post office, express company, or collective agency, or agents of any of the foregoing.

South Dakota § 51A-4-12 (Checks settled at par--Payment from reserve deposits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.