South Dakota § 51A-6A-50.1 Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company.

South Dakota Statutes

§ 51A-6A-50.1 — Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company.

South Dakota § 51A-6A-50.1

Title 51ABANKS AND BANKING

Ch. 51A-6ACREATION OF TRUST COMPANIES

This text of South Dakota § 51A-6A-50.1 (Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company.) 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-6A-50.1 (2026).

Text

If a trust company has been acquired, merged, or consolidated with another trust company or financial institution, or its assets have been purchased and its liabilities assumed by another trust company or financial institution, in any instance other than an emergency, within thirty days thereafter, the directors of the trust company shall institute proceedings to legally dissolve its charter in the same manner as provided for voluntary liquidation in chapter 51A-15 . However, no notice need be given pursuant to § 51A-15-3 .

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If a trust company has been acquired, merged, or consolidated with another trust company or financial institution, or its assets have been purchased and its liabilities assumed by another trust company or financial institution, in any instance other than an emergency, within thirty days thereafter, the directors of the trust company shall institute proceedings to legally dissolve its charter in the same manner as provided for voluntary liquidation in chapter 51A-15 . However, no notice need be given pursuant to § 51A-15-3 .