<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 51A-17-73 - Acquisition of control--Application--Completion.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s684172f8680f48fd8a570efb3b174413Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s684172f8680f48fd8a570efb3b174413SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s684172f8680f48fd8a570efb3b174413CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s684172f8680f48fd8a570efb3b174413Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; 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font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s684172f8680f48fd8a570efb3b174413DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s684172f8680f48fd8a570efb3b174413SCL { 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><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 51A-17-73 - Acquisition of control--Application--Completion."><meta property="og:description" content="SDLRC Codified Law 51A-17-73 - Acquisition of control--Application--Completion."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/51A-17-73"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413Normal"><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-73" rel="noopener"><span class="s684172f8680f48fd8a570efb3b174413SENU">51A-17-73</span></a><span xml:space="preserve" class="s684172f8680f48fd8a570efb3b174413SENU">. </span><span class="s684172f8680f48fd8a570efb3b174413CL">Acquisition of control--Application--Completion.</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413Statute"><span xml:space="preserve" class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">When an application for acquisition of control under § </span><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-72" rel="noopener"><span class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">51A-17-72</span></a><span xml:space="preserve" class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont"> appears to include all the items and address all of the matters that are required, the application shall be considered complete and the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and:</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413StatuteNumber1"><span class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">(1)    The director shall approve or deny the application within sixty days after the completion date; or</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413StatuteNumber1"><span class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">(2)    If the application is not approved or denied within sixty days after the completion date:</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413StatuteNumber2"><span class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">(a)    The application is approved; and</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413StatuteNumber2"><span class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">(b)    The person, or group of persons acting in concert, are not prohibited from acquiring control.</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413StatuteNumber1"><span class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont">(3)    The director may for good cause extend the application period.</span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413Normal"><span xml:space="preserve" class="s684172f8680f48fd8a570efb3b174413000000"> </span></p><p dir="ltr" class="s684172f8680f48fd8a570efb3b174413NoIndent"><span xml:space="preserve" class="s684172f8680f48fd8a570efb3b174413DefaultParagraphFont-000001">Source: </span><span class="s684172f8680f48fd8a570efb3b174413SCL">SL 2024, ch 196, § 22.</span></p></div></body></html>