<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-15-14 - Notice of suspension and possession. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071842Normal { 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.s2071842SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071842CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071842Normal-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.s2071842DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071842000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071842SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071842SCL-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="s2071842Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-15-14"><span class="s2071842SENU">51A-15-14</span></a><span xml:space="preserve" class="s2071842SENU">. </span><span class="s2071842CL">Notice of suspension and possession.</span></p><p dir="ltr" class="s2071842Normal-000000"><span xml:space="preserve" class="s2071842DefaultParagraphFont">The director shall suspend the activities and take possession pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-15-11"><span class="s2071842DefaultParagraphFont">51A-15-11</span></a><span xml:space="preserve" class="s2071842DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-15-21"><span class="s2071842DefaultParagraphFont">51A-15-21</span></a><span xml:space="preserve" class="s2071842DefaultParagraphFont"> by posting upon the premises a notice reciting that all activities shall be suspended and that the director is assuming possession pursuant to this chapter and the time, not earlier than the posting of the notice, when the director's possession is deemed to commence. The notice shall also be posted to the division's website. The director shall notify the appropriate federal reserve bank of an action to take possession of any bank which is a member of the federal reserve system.</span></p><p dir="ltr" class="s2071842Normal"><span xml:space="preserve" class="s2071842000001"> </span></p><p dir="ltr" class="s2071842Normal"><span class="s2071842SCL">Source:</span><span xml:space="preserve" class="s2071842SCL-000002"> SL 1969, ch 11, § 13.6(1); SL 1988, ch 377, § 166; SDCL § 51-27-11; SL 2012, ch 252, § 26; SL 2015, ch 239, § 10.</span></p></div></body></html>