Statutes, codes, and regulations
South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 1 - DEFINITIONS, GENERAL PROVISIONS AND PENALTIES
Section 51A-1-1 - Applicability of provisions-Retention of capital structure by banks

S.D. Codified Laws § 51A-1-1

Download
PDF
Current through the 2024 Legislative Session
Section 51A-1-1 - Applicability of provisions-Retention of capital structure by banks

Any bank, branch bank, drive-in facility, bank service corporation or other entity by its term subject to this title, is subject to this title, except that the legality of their organization under prior law is not affected by this title. Banks may retain their capital structure. However the director may order any bank to comply with the capitalization requirements of this title or such additional amounts as he deems necessary upon a finding by him that the sound conduct of banking will be jeopardized by the retention of such prior capital structure.

SDCL 51A-1-1

SL 1969, ch 11, § 1.13; SDCL, § 51-15-13; SL 1988, ch 377, § 11; SDCL, § 51-15-1.1.