South Dakota § 51A-4-21 Bad debts--Maximum time allowed before charge

South Dakota Statutes

§ 51A-4-21 — Bad debts--Maximum time allowed before charge

South Dakota § 51A-4-21

Title 51ABANKS AND BANKING

Ch. 51A-2GENERAL POWERS OF BANKS

This text of South Dakota § 51A-4-21 (Bad debts--Maximum time allowed before charge) 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-4-21 (2026).

Text

Any debt due to any bank on which the interest is past due and unpaid for a period of six months unless the debt is well secured or in process of collection, shall be considered a bad debt and be charged to the reserve for loan and lease losses. In no case may an overdraft be held as an asset by any bank for a period of time longer than that set by the rules of the commission.

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Legislative History

SDC 1939, § 6.0432; SDCL, § 51-11-14; SL 1969, ch 11, § 4.16; SL 1981, ch 346, § 35; SL 1988, ch 377, § 93; SDCL, § 51-18-17; SL 1991, ch 390, § 6; SL 1997, ch 271, § 1.