S.D. Codified Laws § 51A-4-12

Current through the 2024 Legislative Session

Section 51A-4-12 - Checks settled at par-Payment from reserve deposits

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.

SDCL 51A-4-12

SL 1920 (SS), ch 31, § 1; SDC 1939, § 6.0421; SL 1947, ch 26; SDCL, § 51-6-8; SL 1968, ch 7, § 1; SL 1969, ch 11, § 4.8; SDCL, § 51-18-8.