South Dakota § 51A-6A-35 Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director.

South Dakota Statutes

§ 51A-6A-35 — Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-6A CREATION OF TRUST COMPANIES

If any officer of any trust company refuses to submit the books, records, papers, and instruments of the trust company to the examination and inspection of the director or in any manner obstruct or interfere with the examination and investigation of the trust company or refuse to be examined on oath concerning any of the affairs of the trust company, the director may revoke the authority of the trust company to transact business, and with the concurrence of the attorney general, may institute proceedings for the appointment of a receiver for the trust company.

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If any officer of any trust company refuses to submit the books, records, papers, and instruments of the trust company to the examination and inspection of the director or in any manner obstruct or interfere with the examination and investigation of the trust company or refuse to be examined on oath concerning any of the affairs of the trust company, the director may revoke the authority of the trust company to transact business, and with the concurrence of the attorney general, may institute proceedings for the appointment of a receiver for the trust company.

South Dakota § 51A-6A-35 (Authority of trust company revoked upon obstruction or interference with, or refusal to submit to, examination of director.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.