<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 51A-12-14 - Right of offset on loans. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071810Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071810SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071810CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071810Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071810DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071810000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071810SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071810SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2071810Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-12-14"><span class="s2071810SENU">51A-12-14</span></a><span xml:space="preserve" class="s2071810SENU">. </span><span class="s2071810CL">Right of offset on loans.</span></p><p dir="ltr" class="s2071810Normal-000000"><span xml:space="preserve" class="s2071810DefaultParagraphFont">In addition to the general lien created by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=44-11-11"><span class="s2071810DefaultParagraphFont">44-11-11</span></a><span xml:space="preserve" class="s2071810DefaultParagraphFont"> in favor of a bank on all property in possession of the bank belonging to its customers, a bank may offset against all loan balances, whether principal or interest, owed to the bank by a customer, all or any portion of the bank's obligation to the customer in the form of certificates of deposit, time savings certificates and any other form of deposit.</span></p><p dir="ltr" class="s2071810Normal"><span xml:space="preserve" class="s2071810000001"> </span></p><p dir="ltr" class="s2071810Normal"><span class="s2071810SCL">Source:</span><span xml:space="preserve" class="s2071810SCL-000002"> SL 1981, ch 346, § 61; SDCL, § 51-24-15.</span></p></div></body></html>