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State of South Dakota
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SEVENTY-THIRD
SESSION
LEGISLATIVE ASSEMBLY, 1998 |
| 400B0260 |
HOUSE BILL
NO.
1044
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| Introduced by: The Committee on Commerce at the request of the Department of Commerce and Regulation |
FOR AN ACT ENTITLED, An Act
to define certain bank dividends.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 51A-3 be amended by adding thereto a NEW SECTION to read as follows:
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 51A-3 be amended by adding thereto a NEW SECTION to read as follows:
For the purposes of this chapter, dividends are any distribution of funds made by the bank
to a shareholder from current or accumulated earnings except for fees or salaries.
750 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.016 per page. . Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated byoverstrikes.
Legislative Research Council at a cost of $.016 per page. . Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by
