ENTITLED, An Act  to revise the period of time a bank is allowed to hold overdrafts as an asset.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 51A-4-21 be amended to read as follows:
     51A-4-21.   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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An Act to revise the period of time a bank is allowed to hold overdrafts as an asset.

========================= I certify that the attached Act originated in the HOUSE as Bill No. 1067

____________________________
Chief Clerk

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____________________________
Speaker of the House

Attest:

____________________________
Chief Clerk

____________________________
President of the Senate

Attest:

____________________________
Secretary of the Senate

House Bill No. 1067
File No. ____
Chapter No. ______     =========================
Received at this Executive Office this ____ day of _____________ ,

19___ at _____ M.

By _________________________
for the Governor

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The attached Act is hereby approved this ________ day of ______________ , A.D., 19___

____________________________
Governor

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STATE OF SOUTH DAKOTA,

ss.

Office of the Secretary of State

Filed ____________ , 19___
at _________ o'clock __ M.

____________________________
Secretary of State

By _________________________
Asst. Secretary of State