<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 51A-2 - DIVISION OF BANKING 51A-2 DIVISION OF BANKING </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 51A-2 DIVISION OF BANKING "> <META NAME="Description" Content="South Dakota Codified Laws 51A-2"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 51A-2 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> DIVISION OF BANKING <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-1">51A-2-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Establishment of Division of Banking. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-2">51A-2-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Department and commission as division within Department of Labor and Regulation--Direction and supervision by department--Independent functions retained by division. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-3">51A-2-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Director of division--Vacancy--Qualifications. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-4">51A-2-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Director of division--Appointment and removal. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-5">51A-2-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Deputy director--Appointment--Powers and duties. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-6">51A-2-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Staff employees--Compensation--Dismissal--Background investigation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-7">51A-2-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Appointment of State Banking Commission--Director as executive officer--Qualifications of members. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-8">51A-2-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Terms of commission members--Vacancies--Removal for cause. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-9">51A-2-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Chairman and secretary of commission--Per diem and expenses of members. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-10">51A-2-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Meetings of commission. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-11">51A-2-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Quorum--Replacement of nonparticipating member. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-12">51A-2-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Clerical, technical, and legal assistance for commission. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-13">51A-2-13</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rules promulgated by commission. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-14">51A-2-14</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rules granting additional authority to banks to promote competitive equality. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-14.1">51A-2-14.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> State chartered banks granted powers allowed federally chartered banks. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-14.2">51A-2-14.2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Restrictions on federally chartered banks apply to state chartered banks. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-15">51A-2-15</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Considerations of commission in making rules and regulations. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-16">51A-2-16</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Applications to organize or change control of bank, to merge, to open or close branch banks, or to change location. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-17">51A-2-17</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Forms of advertising. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-18">51A-2-18</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Examination of banks by director--Substitution for examination requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-19">51A-2-19</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Subpoena power--Witness fees and mileage. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-20">51A-2-20</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Examination by director upon application by board--Fees and expenses. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-21">51A-2-21</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Order to prohibit stockholders' action pending judicial determination. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-22">51A-2-22</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Removal of director, officer, or employee of bank--Grounds for order by director. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-23">51A-2-23</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Review of removal order by commission. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-24">51A-2-24</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Accounting practices--Valuation of assets--Required practices to protect loans. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-25">51A-2-25</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Temporary order of director against unsound practice. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-26">51A-2-26</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Permanent order of commission against unsound practice. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-27">51A-2-27</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Injunctive relief. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-28">51A-2-28</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Seal of director. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-29">51A-2-29</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Record of fees--Disposition of money collected. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-30">51A-2-30</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Banking special revenue fund created--Disbursements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-31">51A-2-31</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Copies of official records and papers in office of division--Evidentiary value--Fee for certified copy. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-32">51A-2-32</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Oaths and bonds of commissioners, director, deputy director, examiners and special examiners, and other division personnel. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-33">51A-2-33</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Secrecy oath of commissioners, director and division officers and employees--Exceptions to secrecy requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-34">51A-2-34</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Interest in bank by division officers or employees prohibited--Relinquishment of interest by director or deputy for term of office. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-35">51A-2-35</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Records of division open to public inspection--Exceptions--Court order. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-36">51A-2-36</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Examination and supervision fees. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-37">51A-2-37</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Examinations of parent corporations by director--Penalty for refusal to allow examination. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-38">51A-2-38</A> to 51A-2-43. Repealed. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071469Normal { 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.s2071469SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071469CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071469Normal-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.s2071469DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071469000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071469SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071469SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071469Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-1"><span class="s2071469SENU">51A-2-1</span></a><span xml:space="preserve" class="s2071469SENU">. </span><span class="s2071469CL">Establishment of Division of Banking.</span></p><p dir="ltr" class="s2071469Normal-000000"><span class="s2071469DefaultParagraphFont">The Division of Banking is established and shall be administered under the direction and supervision of the Department of Labor and Regulation. The division is charged with supervision and control over the activities set forth in this title, and it shall exercise such other jurisdiction over such other activities as shall be conferred upon it by the Legislature.</span></p><p dir="ltr" class="s2071469Normal"><span xml:space="preserve" class="s2071469000001"> </span></p><p dir="ltr" class="s2071469Normal"><span class="s2071469SCL">Source:</span><span xml:space="preserve" class="s2071469SCL-000002"> SL 1909, ch 222, art 1, § 1; SL 1915, ch 102, art 1, § 1; SL 1917, ch 256, § 1; RC 1919, § 8917; SL 1933, ch 47, § 5; SDC 1939, § 6.0205 (1); SDCL § 51-2-18; SL 1969, ch 11, § 2.1; SL 1988, ch 377, § 13; SDCL § 51-16-1; SL 2004, ch 17, § 299; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2071469SCL-000002">11-1</span></a><span class="s2071469SCL-000002">), § 162, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071470Normal { 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.s2071470SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071470CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071470Normal-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.s2071470DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071470000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071470SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071470SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071470Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-2"><span class="s2071470SENU">51A-2-2</span></a><span xml:space="preserve" class="s2071470SENU">. </span><span class="s2071470CL">Department and commission as division within Department of Labor and Regulation--Direction and supervision by department--Independent functions retained by division.</span></p><p dir="ltr" class="s2071470Normal-000000"><span xml:space="preserve" class="s2071470DefaultParagraphFont">The Division of Banking shall be administered under the direction and supervision of the Department of Labor and Regulation and the secretary thereof. The division shall retain the quasi-judicial, quasi-legislative, advisory, and other nonadministrative functions (as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-32-1"><span class="s2071470DefaultParagraphFont">1-32-1</span></a><span class="s2071470DefaultParagraphFont">) otherwise vested in it and shall exercise those functions independently of the secretary.</span></p><p dir="ltr" class="s2071470Normal"><span xml:space="preserve" class="s2071470000001"> </span></p><p dir="ltr" class="s2071470Normal"><span class="s2071470SCL">Source:</span><span xml:space="preserve" class="s2071470SCL-000002"> SL 1973, ch 2 (Ex. Ord. 73-1), § 43; SL 1973, ch 290, § 2; SL 1988, ch 377, § 14; SDCL § 51-16-1.1; SL 2003, ch 272 (Ex. Ord. 03-1), § 118, eff. Apr. 17, 2003; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2071470SCL-000002">11-1</span></a><span class="s2071470SCL-000002">), § 162, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071471Normal { 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.s2071471SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071471CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071471Normal-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.s2071471DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071471Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071471000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071471SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071471SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071471Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-3"><span class="s2071471SENU">51A-2-3</span></a><span xml:space="preserve" class="s2071471SENU">. </span><span class="s2071471CL">Director of division--Vacancy--Qualifications.</span></p><p dir="ltr" class="s2071471Normal-000000"><span class="s2071471DefaultParagraphFont">The division shall be under the administrative control and supervision of the director. If the office of director is vacated a successor shall be appointed to fill the unexpired term then remaining.</span></p><p dir="ltr" class="s2071471Normal-000001"><span class="s2071471DefaultParagraphFont">The director shall have such professional and business experience that, in the opinion of the secretary of labor and regulation, equip him to discharge the duties and fulfill the responsibilities of the office of director.</span></p><p dir="ltr" class="s2071471Normal"><span xml:space="preserve" class="s2071471000002"> </span></p><p dir="ltr" class="s2071471Normal"><span class="s2071471SCL">Source:</span><span xml:space="preserve" class="s2071471SCL-000003"> SL 1909, ch 222, art 1, § 2; SL 1911, ch 256, § 2; SL 1915, ch 102, art 1, § 2; SL 1917, ch 140, § 1; RC 1919, § 8918; SL 1921, ch 135; SL 1933, ch 56; SDC 1939, § 6.0206; SDCL § 51-2-1; SL 1969, ch 11, § 2.2; SL 1980, ch 370, § 20; SL 1988, ch 377, § 17; SDCL § 51-16-2; SL 2003, ch 272, (Ex. Ord. 03-1), § 24; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2071471SCL-000003">11-1</span></a><span class="s2071471SCL-000003">), § 162, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071472Normal { 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.s2071472SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071472CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071472Normal-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.s2071472DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071472000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071472SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071472SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071472Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-4"><span class="s2071472SENU">51A-2-4</span></a><span xml:space="preserve" class="s2071472SENU">. </span><span class="s2071472CL">Director of division--Appointment and removal.</span></p><p dir="ltr" class="s2071472Normal-000000"><span class="s2071472DefaultParagraphFont">The director of the division shall be appointed by the secretary of labor and regulation and may be removed at the pleasure of the secretary.</span></p><p dir="ltr" class="s2071472Normal"><span xml:space="preserve" class="s2071472000001"> </span></p><p dir="ltr" class="s2071472Normal"><span class="s2071472SCL">Source:</span><span xml:space="preserve" class="s2071472SCL-000002"> SL 1973, ch 2, § 45; SL 1973, ch 290, § 3; SL 1980, ch 370, § 21; SL 1988, ch 377, § 18; SDCL § 51-16-2.1; SL 1995, ch 2, § 5; SL 2003, ch 272 (Ex. Ord. 03-1), § 24; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2071472SCL-000002">11-1</span></a><span class="s2071472SCL-000002">), § 162, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071473Normal { 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.s2071473SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071473CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071473Normal-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.s2071473DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071473Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071473000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071473SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071473SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071473Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-5"><span class="s2071473SENU">51A-2-5</span></a><span xml:space="preserve" class="s2071473SENU">. </span><span class="s2071473CL">Deputy director--Appointment--Powers and duties.</span></p><p dir="ltr" class="s2071473Normal-000000"><span class="s2071473DefaultParagraphFont">The secretary of labor and regulation may appoint a deputy director who shall devote all of his time to the duties of the office.</span></p><p dir="ltr" class="s2071473Normal-000001"><span class="s2071473DefaultParagraphFont">During the absence or disqualification of the director or during a vacancy in such office, the deputy, as acting director, shall perform the duties of the director.</span></p><p dir="ltr" class="s2071473Normal"><span xml:space="preserve" class="s2071473000002"> </span></p><p dir="ltr" class="s2071473Normal"><span class="s2071473SCL">Source:</span><span xml:space="preserve" class="s2071473SCL-000003"> SL 1909, ch 222, art 1, § 2; SL 1911, ch 256, § 2; SL 1915, ch 102, art. 1, § 2; SL 1917, ch 140, § 1; RC 1919, § 8918; SL 1921, ch 135; SL 1933, ch 56; SDC 1939, § 6.0207; SDCL § 51-2-2; SL 1969, ch 11, § 2.3; SL 1979, ch 322; SL 1988, ch 377, § 19; SDCL § 51-16-3; SL 2003, ch 272 (Ex. Ord. 03-1), § 24; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2071473SCL-000003">11-1</span></a><span class="s2071473SCL-000003">), § 162, eff. Apr. 12, 2011.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071474Normal { 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.s2071474SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071474CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071474Normal-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.s2071474DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071474Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071474000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071474SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071474SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071474Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-6"><span class="s2071474SENU">51A-2-6</span></a><span xml:space="preserve" class="s2071474SENU">. </span><span class="s2071474CL">Staff employees--Compensation--Dismissal--Background investigation.</span></p><p dir="ltr" class="s2071474Normal-000000"><span xml:space="preserve" class="s2071474DefaultParagraphFont">The division may employ examiners and special examiners, legal counsel, clerks, stenographers and other aides as deemed necessary to assist the director in the performance of the director's duties. The division shall fix the compensation of each employee and may dismiss any employee not subject to the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-6D"><span class="s2071474DefaultParagraphFont">3-6D</span></a><span xml:space="preserve" class="s2071474DefaultParagraphFont"> at will.</span></p><p dir="ltr" class="s2071474Normal-000001"><span class="s2071474DefaultParagraphFont">Each person hired by the Division of Banking, in any capacity, shall agree to submit to a background investigation, by means of fingerprint checks by the Division of Criminal Investigation and the Federal Bureau of Investigation. The division shall submit completed fingerprint cards to the Division of Criminal Investigation before the prospective new employee enters into service. If no disqualifying record is identified at the state level, the fingerprints shall be forwarded by the Division of Criminal Investigation to the Federal Bureau of Investigation for a national criminal history record check. Any person whose employment is subject to the requirements of this section may enter into service on a temporary basis pending receipt of results from the background investigation. The division may, without liability, withdraw its offer of employment or terminate the temporary employment without notice if the report reveals that the person has been convicted of any financial crime, or any crime that otherwise reveals circumstances that reasonably suggest that the person should not be employed by the division.</span></p><p dir="ltr" class="s2071474Normal"><span xml:space="preserve" class="s2071474000002"> </span></p><p dir="ltr" class="s2071474Normal"><span class="s2071474SCL">Source:</span><span xml:space="preserve" class="s2071474SCL-000003"> SL 1909, ch 222, art 1, §§ 2, 10; SL 1911, ch 256, §§ 2, 12; SL 1915, ch 102, art 1, §§ 2, 13; SL 1917, ch 140, § 1; RC 1919, §§ 8918, 8929; SL 1921, ch 135; SL 1925, ch 98; SL 1927, ch 51; SL 1933, ch 56; SDC 1939, §§ 6.0208, 6.0209, 6.0211, 6.0212; SDCL §§ 51-2-3 to 51-2-6; SL 1969, ch 11, § 2.4; SL 1988, ch 377, § 20; SDCL § 51-16-4; SL 2007, ch 275, § 1; SL 2018, ch 12, § 24.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071475Normal { 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.s2071475SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071475CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071475Normal-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.s2071475DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071475Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071475000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071475SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071475SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071475Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-7"><span class="s2071475SENU">51A-2-7</span></a><span xml:space="preserve" class="s2071475SENU">. </span><span class="s2071475CL">Appointment of State Banking Commission--Director as executive officer--Qualifications of members.</span></p><p dir="ltr" class="s2071475Normal-000000"><span class="s2071475DefaultParagraphFont">The commission shall consist of five members appointed by the Governor, all of whom shall be residents of the state. The director shall be the executive officer of the commission and shall comply with and enforce all orders and directions of the commission.</span></p><p dir="ltr" class="s2071475Normal-000001"><span class="s2071475DefaultParagraphFont">Three of the members of the commission shall be officers or directors of a state or national bank at the time of and during their appointment. However, no more than one member of the commission may be an officer or director of a national bank at the time of appointment. The remaining two members of the commission shall have the qualifications provided by law except that they need not be officers or directors of a bank, nor associated in any way with the business of banking.</span></p><p dir="ltr" class="s2071475Normal"><span xml:space="preserve" class="s2071475000002"> </span></p><p dir="ltr" class="s2071475Normal"><span class="s2071475SCL">Source:</span><span xml:space="preserve" class="s2071475SCL-000003"> SL 1933, ch 47, § 1; SDC 1939, § 6.0201; SL 1941, ch 13; SL 1945, ch 26; SDCL, §§ 51-2-8, 51-2-17; SL 1969, ch 11, § 2.6; SL 1970, ch 265, § 3.1; SL 1975, ch 7, § 2; SL 1978, ch 350, § 2; SL 1988, ch 377, § 21; SDCL, § 51-16-6.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071476Normal { 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.s2071476SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071476CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071476Normal-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.s2071476DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071476Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071476000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071476SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071476SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071476Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-8"><span class="s2071476SENU">51A-2-8</span></a><span xml:space="preserve" class="s2071476SENU">. </span><span class="s2071476CL">Terms of commission members--Vacancies--Removal for cause.</span></p><p dir="ltr" class="s2071476Normal-000000"><span class="s2071476DefaultParagraphFont">The term of office of members of the commission as created by this chapter is three years each. However, the term of office of only one member who is a director or officer of a bank may expire each year.</span></p><p dir="ltr" class="s2071476Normal-000001"><span class="s2071476DefaultParagraphFont">Vacancies arising other than from the natural expiration of a term shall be appointed for the remainder of the unexpired term only and such appointees shall meet the qualifications prescribed by law for the vacated position. All appointments to the commission are effective on the thirty-first day of October in which the Governor appoints the member, unless otherwise designated by the Governor. Members shall serve until their successors are appointed and qualified. Any member may be removed by the Governor for cause. The three-year terms expire on October thirtieth in the third year of appointment.</span></p><p dir="ltr" class="s2071476Normal-000001"><span class="s2071476DefaultParagraphFont">Any member's term ending June 30, 2013, or thereafter is extended to October thirtieth in the year the term is to expire.</span></p><p dir="ltr" class="s2071476Normal"><span xml:space="preserve" class="s2071476000002"> </span></p><p dir="ltr" class="s2071476Normal"><span class="s2071476SCL">Source:</span><span xml:space="preserve" class="s2071476SCL-000003"> SL 1933, ch 47, § 1; SDC 1939, § 6.0201; SL 1941, ch 13; SL 1945, ch 26; SL 1966, ch 11; SDCL § 51-2-10; SL 1969, ch 11, § 2.8; SL 1970, ch 265, § 4; SL 1975, ch 7, § 3; SL 1988, ch 377, § 23; SDCL § 51-16-8; SL 2012, ch 16, § 2; SL 2013, ch 176, § 2.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071477Normal { 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.s2071477SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071477CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071477Normal-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.s2071477DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071477000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071477SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071477SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071477Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-9"><span class="s2071477SENU">51A-2-9</span></a><span xml:space="preserve" class="s2071477SENU">. </span><span class="s2071477CL">Chairman and secretary of commission--Per diem and expenses of members.</span></p><p dir="ltr" class="s2071477Normal-000000"><span xml:space="preserve" class="s2071477DefaultParagraphFont">The commission shall elect a chairman from its members. The commission shall select a secretary who need not be one of its members. Each member shall be reimbursed for his expenses and shall receive an allowance for each day actually and necessarily spent in the performance of his duties in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-7-10.4"><span class="s2071477DefaultParagraphFont">4-7-10.4</span></a><span class="s2071477DefaultParagraphFont">.</span></p><p dir="ltr" class="s2071477Normal"><span xml:space="preserve" class="s2071477000001"> </span></p><p dir="ltr" class="s2071477Normal"><span class="s2071477SCL">Source:</span><span xml:space="preserve" class="s2071477SCL-000002"> SL 1933, ch 47, § 2; SDC 1939, § 6.0201; SL 1941, ch 13; SL 1945, ch 26; SL 1966, ch 11; SDCL, § 51-2-15; SL 1969, ch 11, § 2.9; SL 1978, ch 350, § 3; SDCL, § 51-16-9.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071478Normal { 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.s2071478SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071478CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071478Normal-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.s2071478DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071478000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071478SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071478SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071478Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-10"><span class="s2071478SENU">51A-2-10</span></a><span xml:space="preserve" class="s2071478SENU">. </span><span class="s2071478CL">Meetings of commission.</span></p><p dir="ltr" class="s2071478Normal-000000"><span class="s2071478DefaultParagraphFont">The commission shall hold at least two regular meetings each year. Special meetings, to be held on such notice as the director may direct, may be called at any time upon the written request of two members or by the director. All meetings shall be held at the office of the director unless another location in the state is designated by the director for the meeting. The commission shall keep an official record of all its proceedings.</span></p><p dir="ltr" class="s2071478Normal"><span xml:space="preserve" class="s2071478000001"> </span></p><p dir="ltr" class="s2071478Normal"><span class="s2071478SCL">Source:</span><span xml:space="preserve" class="s2071478SCL-000002"> SL 1933, ch 47, § 4; SDC 1939, § 6.0204; SDCL § 51-2-14; SL 1969, ch 11, § 2.10; SL 1970, ch 265, § 5; SL 1981, ch 346, § 4; SL 1988, ch 377, § 24; SDCL § 51-16-10; SL 2008, ch 252, § 4.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071479Normal { 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.s2071479SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071479CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071479Normal-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.s2071479DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071479000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071479SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071479SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071479Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-11"><span class="s2071479SENU">51A-2-11</span></a><span xml:space="preserve" class="s2071479SENU">. </span><span class="s2071479CL">Quorum--Replacement of nonparticipating member.</span></p><p dir="ltr" class="s2071479Normal-000000"><span xml:space="preserve" class="s2071479DefaultParagraphFont">A majority of the voting members of the commission constitutes a quorum for the conduct of all business. At any meeting at which a quorum is not present, whether by reason of the inability of the member to participate or the member's disqualification pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-16"><span class="s2071479DefaultParagraphFont">51A-2-16</span></a><span class="s2071479DefaultParagraphFont">, the Governor or the Governor's designee, temporarily assuming the powers and duties of a member of the commission, shall replace the interested member of the commission. The commission as then composed shall proceed with the matters before it.</span></p><p dir="ltr" class="s2071479Normal"><span xml:space="preserve" class="s2071479000001"> </span></p><p dir="ltr" class="s2071479Normal"><span class="s2071479SCL">Source:</span><span xml:space="preserve" class="s2071479SCL-000002"> SL 1969, ch 11, § 2.11; SL 1970, ch 265, § 6; SL 1988, ch 377, § 25; SDCL § 51-16-11; SL 2008, ch 252, § 5.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071480Normal { 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.s2071480SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071480CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071480Normal-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.s2071480DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071480000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071480SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071480SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071480Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-12"><span class="s2071480SENU">51A-2-12</span></a><span xml:space="preserve" class="s2071480SENU">. </span><span class="s2071480CL">Clerical, technical, and legal assistance for commission.</span></p><p dir="ltr" class="s2071480Normal-000000"><span class="s2071480DefaultParagraphFont">The commission may contract for the services of such clerical, technical and legal assistance as it may require.</span></p><p dir="ltr" class="s2071480Normal"><span xml:space="preserve" class="s2071480000001"> </span></p><p dir="ltr" class="s2071480Normal"><span class="s2071480SCL">Source:</span><span xml:space="preserve" class="s2071480SCL-000002"> SL 1969, ch 11, § 2.12; SL 1988, ch 377, § 26; SDCL, § 51-16-12.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071481Normal { 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.s2071481SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071481CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071481Normal-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.s2071481DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071481000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071481SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071481SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071481Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-13"><span class="s2071481SENU">51A-2-13</span></a><span xml:space="preserve" class="s2071481SENU">. </span><span class="s2071481CL">Rules promulgated by commission.</span></p><p dir="ltr" class="s2071481Normal-000000"><span xml:space="preserve" class="s2071481DefaultParagraphFont">The commission may promulgate necessary rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071481DefaultParagraphFont">1-26</span></a><span class="s2071481DefaultParagraphFont">, consistent with the laws of this state, for the management and administration of banks and other banking entities, their subsidiaries and affiliates, over which it has jurisdiction as set forth in this title, and to regulate its own procedure and practice.</span></p><p dir="ltr" class="s2071481Normal"><span xml:space="preserve" class="s2071481000001"> </span></p><p dir="ltr" class="s2071481Normal"><span class="s2071481SCL">Source:</span><span xml:space="preserve" class="s2071481SCL-000002"> SL 1933, ch 47, § 5; SDC 1939, § 6.0205 (3); SDCL, § 51-2-19; SL 1969, ch 11, § 2.13 (2); SL 1975, ch 290; SL 1977, ch 397; SL 1988, ch 377, § 28; SDCL, § 51-16-14.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071482Normal { 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.s2071482SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071482CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071482Normal-000000 { 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.s2071482DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071482Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2071482Normal-000002 { text-indent: 0.25in; 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.s2071482000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071482SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071482SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071482Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-14"><span class="s2071482SENU">51A-2-14</span></a><span xml:space="preserve" class="s2071482SENU">. </span><span class="s2071482CL">Rules granting additional authority to banks to promote competitive equality.</span></p><p dir="ltr" class="s2071482Normal-000000"><span class="s2071482DefaultParagraphFont">The commission may adopt rules under its jurisdiction:</span></p><p dir="ltr" class="s2071482Normal-000001"><span class="s2071482DefaultParagraphFont">(1)    To authorize banks to participate in any public agency hereafter created under the laws of this state or the United States, the purpose of which is to afford advantages or safeguards to banks or to depositors, and to comply with all requirements and conditions imposed upon such participants;</span></p><p dir="ltr" class="s2071482Normal-000001"><span class="s2071482DefaultParagraphFont">(2)    Deleted by SL 1999, ch 233, § 3.</span></p><p dir="ltr" class="s2071482Normal-000001"><span class="s2071482DefaultParagraphFont">(3)    To allow banks to engage in any other banking or nonbanking activities, not prohibited by state law, which the commission deems appropriate; and</span></p><p dir="ltr" class="s2071482Normal-000001"><span class="s2071482DefaultParagraphFont">(4)    To authorize banks to use new or different forms of accepting deposits, making loans, transferring funds, offering services and such other subjects as it deems appropriate.</span></p><p dir="ltr" class="s2071482Normal-000002"><span class="s2071482DefaultParagraphFont">In adopting rules pursuant to this section, the commission shall adopt only such rules that, in the opinion of the commission, promote competitive equality between state chartered banks, national banks, and other financial institutions.</span></p><p dir="ltr" class="s2071482Normal"><span xml:space="preserve" class="s2071482000003"> </span></p><p dir="ltr" class="s2071482Normal"><span class="s2071482SCL">Source:</span><span xml:space="preserve" class="s2071482SCL-000004"> SL 1969, ch 11, § 2.13 (4); SL 1970, ch 265, § 7; SL 1981, ch 346, § 5; SDCL, § 51-16-16; SL 1988, ch 377, § 31; SDCL, § 51-16-14.1; SL 1999, ch 233, § 3.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071483Normal { 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.s2071483SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071483CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071483Normal-000000 { 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.s2071483DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071483Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2071483Normal-000002 { text-indent: 0.25in; 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.s2071483000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071483SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071483SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071483Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-14.1"><span class="s2071483SENU">51A-2-14.1</span></a><span xml:space="preserve" class="s2071483SENU">. </span><span class="s2071483CL">State chartered banks granted powers allowed federally chartered banks.</span></p><p dir="ltr" class="s2071483Normal-000000"><span class="s2071483DefaultParagraphFont">Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, expressed or implied, that a state bank has under the laws of this state, a state bank shall have the powers and authorities conferred as of January 1, 2008, upon federally chartered banks doing business in this state. A state bank may exercise the powers and authorities conferred on a federally chartered bank after this date only if the director finds that the exercise of such powers and authorities:</span></p><p dir="ltr" class="s2071483Normal-000001"><span class="s2071483DefaultParagraphFont">(1)    Serves the convenience and advantage of depositors, borrowers, or the general public; and</span></p><p dir="ltr" class="s2071483Normal-000001"><span class="s2071483DefaultParagraphFont">(2)    Maintains the fairness of competition and parity between state chartered and federally chartered banks.</span></p><p dir="ltr" class="s2071483Normal-000002"><span class="s2071483DefaultParagraphFont">If the director finds that the before-mentioned conditions have been met, the director shall make a declaratory ruling allowing state banks the same powers and authorities.</span></p><p dir="ltr" class="s2071483Normal-000002"><span class="s2071483DefaultParagraphFont">As used in this section, powers and authorities, include, without limitation, powers and authorities in corporate governance and operational matters.</span></p><p dir="ltr" class="s2071483Normal"><span xml:space="preserve" class="s2071483000003"> </span></p><p dir="ltr" class="s2071483Normal"><span class="s2071483SCL">Source:</span><span xml:space="preserve" class="s2071483SCL-000004"> SL 1999, ch 233, § 1; SL 2008, ch 252, § 6.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071484Normal { 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.s2071484SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071484CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071484Normal-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.s2071484DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071484000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071484SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071484SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071484Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-14.2"><span class="s2071484SENU">51A-2-14.2</span></a><span xml:space="preserve" class="s2071484SENU">. </span><span class="s2071484CL">Restrictions on federally chartered banks apply to state chartered banks.</span></p><p dir="ltr" class="s2071484Normal-000000"><span xml:space="preserve" class="s2071484DefaultParagraphFont">The restrictions, limitations, and requirements applicable to specific powers or authorities of federally chartered banks apply to state banks exercising those powers or authorities permitted under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-14.1"><span class="s2071484DefaultParagraphFont">51A-2-14.1</span></a><span xml:space="preserve" class="s2071484DefaultParagraphFont"> but only insofar as the restrictions, limitations, and requirements relate to exercising the powers or authorities granted banks solely under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-14.1"><span class="s2071484DefaultParagraphFont">51A-2-14.1</span></a><span class="s2071484DefaultParagraphFont">.</span></p><p dir="ltr" class="s2071484Normal"><span xml:space="preserve" class="s2071484000001"> </span></p><p dir="ltr" class="s2071484Normal"><span class="s2071484SCL">Source:</span><span xml:space="preserve" class="s2071484SCL-000002"> SL 1999, ch 233, § 2.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071485Normal { 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.s2071485SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071485CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071485Normal-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.s2071485DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071485DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071485000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071485SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071485SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071485Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-15"><span class="s2071485SENU">51A-2-15</span></a><span xml:space="preserve" class="s2071485SENU">. </span><span class="s2071485CL">Considerations of commission in making rules and regulations.</span></p><p dir="ltr" class="s2071485Normal-000000"><span class="s2071485DefaultParagraphFont">In making rules, the commission shall act in the interests of promoting and maintaining a sound banking system; securing deposits, depositors and other customers; preserving the liquid position of banks; promoting the competitive equality of state</span><span class="s2071485DefaultParagraphFont-000001">-</span><span class="s2071485DefaultParagraphFont">chartered banks with national banks and other financial institutions in all aspects of banking practices and permitted nonbanking activities; and preventing injurious credit expansions and contractions.</span></p><p dir="ltr" class="s2071485Normal"><span xml:space="preserve" class="s2071485000002"> </span></p><p dir="ltr" class="s2071485Normal"><span class="s2071485SCL">Source:</span><span xml:space="preserve" class="s2071485SCL-000003"> SL 1969, ch 11, § 2.29; SL 1981, ch 346, § 19; SDCL, § 51-16-39; SL 1988, ch 377, § 52; SDCL, § 51-16-14.2.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071486Normal { 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.s2071486SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071486CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071486Normal-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.s2071486DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071486Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071486000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071486SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071486SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071486Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-16"><span class="s2071486SENU">51A-2-16</span></a><span xml:space="preserve" class="s2071486SENU">. </span><span class="s2071486CL">Applications to organize or change control of bank, to merge, to open or close branch banks, or to change location.</span></p><p dir="ltr" class="s2071486Normal-000000"><span class="s2071486DefaultParagraphFont">The director shall act on an application to organize or change control of a bank; an application for a bank merger; an application to open or close a branch bank, mobile branch bank, or loan production office; or an application to change a bank's location. After the filing of a completed application deemed acceptable to the director, the director shall cause a public notice of the application to be published in a newspaper of general circulation serving the community most directly affected by the application together with any other means of notification to interested persons as the director may determine appropriate.</span></p><p dir="ltr" class="s2071486Normal-000001"><span xml:space="preserve" class="s2071486DefaultParagraphFont">The notice shall direct that any interested persons may file a written objection or written comment to the application with the division within fifteen days following the date of publication. Within thirty days following the date of publication, the director shall consider any written objection and written comment and, in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-3-9"><span class="s2071486DefaultParagraphFont">51A-3-9</span></a><span class="s2071486DefaultParagraphFont">, either approve or disapprove the application. The director shall provide written notice of the director's action on the application to the applicant and to any person having filed with the division a written objection or written comment by mail to the person's last known address.</span></p><p dir="ltr" class="s2071486Normal-000001"><span xml:space="preserve" class="s2071486DefaultParagraphFont">An applicant aggrieved by the director's action on the application, may, within fifteen days after the notice has been mailed, file with the division a written request for a hearing before the commission. Any person who has filed a written objection to the application may, within fifteen days after the notice has been mailed, file a motion with the commission, in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26-17.1"><span class="s2071486DefaultParagraphFont">1-26-17.1</span></a><span class="s2071486DefaultParagraphFont">, to become a party to the application proceeding and request a hearing before the commission. Unless the commission grants the motion or unless the applicant has filed a written request for hearing before the commission, the director's determination on the application is final.</span></p><p dir="ltr" class="s2071486Normal-000001"><span xml:space="preserve" class="s2071486DefaultParagraphFont">All proceedings before the commission on an application shall be held in conformance with chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071486DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2071486DefaultParagraphFont">. If the application involves establishment of any type of competitive banking service in the trade territory of a bank in which any banking commissioner is interested, the commissioner shall be deemed disqualified, and the commission shall be recomposed as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-11"><span class="s2071486DefaultParagraphFont">51A-2-11</span></a><span class="s2071486DefaultParagraphFont">.</span></p><p dir="ltr" class="s2071486Normal"><span xml:space="preserve" class="s2071486000002"> </span></p><p dir="ltr" class="s2071486Normal"><span class="s2071486SCL">Source:</span><span xml:space="preserve" class="s2071486SCL-000003"> SDC 1939, § 6.0205 (4); SL 1966, ch 12; SDCL §§ 51-2-20, 51-2-21; SL 1969, ch 11, § 2.13 (3); SL 1988, ch 377, § 29; SDCL § 51-16-15; SL 1995, ch 266; SL 1998, ch 278, § 2; SL 2008, ch 252, § 7; SL 2017, ch 203, § 1.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071487Normal { 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.s2071487SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071487CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071487Normal-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.s2071487DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071487000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071487SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071487SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071487Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-17"><span class="s2071487SENU">51A-2-17</span></a><span xml:space="preserve" class="s2071487SENU">. </span><span class="s2071487CL">Forms of advertising.</span></p><p dir="ltr" class="s2071487Normal-000000"><span class="s2071487DefaultParagraphFont">No bank may engage in any form of advertising which is false, misleading or deceptive.</span></p><p dir="ltr" class="s2071487Normal"><span xml:space="preserve" class="s2071487000001"> </span></p><p dir="ltr" class="s2071487Normal"><span class="s2071487SCL">Source:</span><span xml:space="preserve" class="s2071487SCL-000002"> SL 1969, ch 11, § 2.13 (8); SL 1988, ch 377, § 33; SDCL, § 51-16-20.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071488Normal { 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.s2071488SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071488CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071488Normal-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.s2071488DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071488000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071488SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071488SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071488Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-18"><span class="s2071488SENU">51A-2-18</span></a><span xml:space="preserve" class="s2071488SENU">. </span><span class="s2071488CL">Examination of banks by director--Substitution for examination requirements.</span></p><p dir="ltr" class="s2071488Normal-000000"><span class="s2071488DefaultParagraphFont">The director shall examine, at least once in every two calendar years, and at such other times that he may deem necessary, all of the affairs of each bank and its subsidiaries. In order to determine how frequently to examine a bank, he may establish a system of classifying banks, based on their current examination, and examine different classes with varying frequency. The director may substitute an examination conducted by the Federal Deposit Insurance Corporation or the federal reserve system for an examination required by this section.</span></p><p dir="ltr" class="s2071488Normal"><span xml:space="preserve" class="s2071488000001"> </span></p><p dir="ltr" class="s2071488Normal"><span class="s2071488SCL">Source:</span><span xml:space="preserve" class="s2071488SCL-000002"> SL 1909, ch 222, art 1, § 4; SL 1911, ch 256, § 4; SL 1915, ch 102, art 1, § 4; RC 1919, § 8920; SL 1935, ch 56; SDC 1939, § 6.0215; SDCL, §§ 51-12-7, 51-12-10; SL 1969, ch 11, § 2.14; SL 1970, ch 265, § 8; SL 1978, ch 350, § 4; SL 1981, ch 346, § 8; SL 1988, ch 377, § 34; SDCL, § 51-16-21.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071489Normal { 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.s2071489SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071489CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071489Normal-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.s2071489DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071489000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071489SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071489SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071489Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-19"><span class="s2071489SENU">51A-2-19</span></a><span xml:space="preserve" class="s2071489SENU">. </span><span class="s2071489CL">Subpoena power--Witness fees and mileage.</span></p><p dir="ltr" class="s2071489Normal-000000"><span xml:space="preserve" class="s2071489DefaultParagraphFont">The director may issue subpoenas and subpoenas duces tecum returnable to any place within this state relating to any matter under investigation. He may administer oaths and examine witnesses under oath for like purposes and to that end may invoke the aid of any circuit court of this state pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-34"><span class="s2071489DefaultParagraphFont">21-34</span></a><span xml:space="preserve" class="s2071489DefaultParagraphFont"> in enforcing the provisions of this section. Witness fees and mileage are the same as are allowed in the circuit courts of this state and are a proper charge against the assets of the bank examined, payable immediately upon the order of the director.</span></p><p dir="ltr" class="s2071489Normal"><span xml:space="preserve" class="s2071489000001"> </span></p><p dir="ltr" class="s2071489Normal"><span class="s2071489SCL">Source:</span><span xml:space="preserve" class="s2071489SCL-000002"> SDCL, § 51-16-21; SL 1988, ch 377, § 34; SDCL, § 51-16-21.1.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071490Normal { 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.s2071490SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071490CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071490Normal-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.s2071490DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071490000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071490SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071490SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071490Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-20"><span class="s2071490SENU">51A-2-20</span></a><span xml:space="preserve" class="s2071490SENU">. </span><span class="s2071490CL">Examination by director upon application by board--Fees and expenses.</span></p><p dir="ltr" class="s2071490Normal-000000"><span class="s2071490DefaultParagraphFont">The director shall examine any bank upon a formal application made by its board of directors, in which event, in addition to the regular fees prescribed, such bank shall pay all actual expenses incurred in connection therewith.</span></p><p dir="ltr" class="s2071490Normal"><span xml:space="preserve" class="s2071490000001"> </span></p><p dir="ltr" class="s2071490Normal"><span class="s2071490SCL">Source:</span><span xml:space="preserve" class="s2071490SCL-000002"> SL 1909, ch 222, art 1, § 4; SL 1911, ch 256, § 1915, ch 102, art 1, § 4; RC 1919, § 8920; SL 1935, ch 56; SDC 1939, § 6.0215; SDCL, § 51-12-9; SL 1969, ch 11, § 2.15; SL 1988, ch 377, § 35; SDCL, § 51-16-22.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071491Normal { 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.s2071491SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071491CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071491Normal-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.s2071491DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071491000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071491SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071491SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071491Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-21"><span class="s2071491SENU">51A-2-21</span></a><span xml:space="preserve" class="s2071491SENU">. </span><span class="s2071491CL">Order to prohibit stockholders' action pending judicial determination.</span></p><p dir="ltr" class="s2071491Normal-000000"><span class="s2071491DefaultParagraphFont">The director may order the prohibition of specific action at any stockholders' meeting of any bank pending timely application for judicial determination on any matter if he believes that such order is necessary to protect the bank against improper, incompetent or careless management practices to safeguard the funds of depositors or to prevent willful violation of this title or any regulation adopted hereunder.</span></p><p dir="ltr" class="s2071491Normal"><span xml:space="preserve" class="s2071491000001"> </span></p><p dir="ltr" class="s2071491Normal"><span class="s2071491SCL">Source:</span><span xml:space="preserve" class="s2071491SCL-000002"> SL 1969, ch 11, § 2.17 (1); SL 1970, ch 265, § 9; SL 1988, ch 377, § 37; SDCL, § 51-16-24.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071492Normal { 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.s2071492SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071492CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071492Normal-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.s2071492DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071492000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071492SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071492SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071492Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-22"><span class="s2071492SENU">51A-2-22</span></a><span xml:space="preserve" class="s2071492SENU">. </span><span class="s2071492CL">Removal of director, officer, or employee of bank--Grounds for order by director.</span></p><p dir="ltr" class="s2071492Normal-000000"><span xml:space="preserve" class="s2071492DefaultParagraphFont">The director, may, subject to the approval of the commission, order the removal or prohibition from the banking industry in South Dakota, or both, of any director, officer, or employee of a bank, upon showing that the director, officer or employee has engaged or participated in any unlawful banking activity, any unsafe or unsound practice in which the bank has suffered or will suffer financial loss or other damage, or upon showing that the director, officer, or employee has knowingly caused the bank to be in violation of any part of this title or any rule issued thereunder, or who is determined by the director to have knowingly and willfully violated the terms of any order issued pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-25"><span class="s2071492DefaultParagraphFont">51A-2-25</span></a><span xml:space="preserve" class="s2071492DefaultParagraphFont"> or 12 U.S.C. § 1818. Any person so affected by an order of the director or commission has the right to a hearing pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071492DefaultParagraphFont">1-26</span></a><span class="s2071492DefaultParagraphFont">.</span></p><p dir="ltr" class="s2071492Normal"><span xml:space="preserve" class="s2071492000001"> </span></p><p dir="ltr" class="s2071492Normal"><span class="s2071492SCL">Source:</span><span xml:space="preserve" class="s2071492SCL-000002"> SL 1909, ch 222, art 2, § 48; SL 1915, ch 102, art 2, § 53; RC 1919, § 9001; SDC 1939, § 6.0205 (8); SDCL § 51-2-23; SL 1969, ch 11, § 2.17 (2); SL 1970, ch 265, § 10; SL 1988, ch 377, § 38; SDCL § 51-16-25; SL 2008, ch 252, § 8.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071493Normal { 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.s2071493SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071493CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071493Normal-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.s2071493DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071493000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071493SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071493SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071493Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-23"><span class="s2071493SENU">51A-2-23</span></a><span xml:space="preserve" class="s2071493SENU">. </span><span class="s2071493CL">Review of removal order by commission.</span></p><p dir="ltr" class="s2071493Normal-000000"><span xml:space="preserve" class="s2071493DefaultParagraphFont">The commission shall approve or disapprove any removal order requested by the director pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-22"><span class="s2071493DefaultParagraphFont">51A-2-22</span></a><span xml:space="preserve" class="s2071493DefaultParagraphFont">. Any proceeding held pursuant to this section shall conform with the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071493DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2071493DefaultParagraphFont"> governing contested cases.</span></p><p dir="ltr" class="s2071493Normal"><span xml:space="preserve" class="s2071493000001"> </span></p><p dir="ltr" class="s2071493Normal"><span class="s2071493SCL">Source:</span><span xml:space="preserve" class="s2071493SCL-000002"> SL 1981, ch 346, § 12; SL 1988, ch 377, § 39; SDCL, § 51-16-25.1.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071494Normal { 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.s2071494SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071494CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071494Normal-000000 { 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.s2071494DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071494Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2071494000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071494SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071494SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071494Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-24"><span class="s2071494SENU">51A-2-24</span></a><span xml:space="preserve" class="s2071494SENU">. </span><span class="s2071494CL">Accounting practices--Valuation of assets--Required practices to protect loans.</span></p><p dir="ltr" class="s2071494Normal-000000"><span class="s2071494DefaultParagraphFont">The director may require any bank:</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(1)    To maintain its accounts in a prescribed manner having regard for the size of the bank;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(2)    To observe methods and standards for determining the value of various types of assets;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(3)    To charge off the whole or part of any asset which could not then be lawfully acquired;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(4)    To write down an asset to its market value;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(5)    To record liens and other interests in property;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(6)    To obtain a financial statement and adequate credit information from borrowers;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(7)    To require borrowers to obtain insurance against damage to real or personal property taken as security;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(8)    To require borrowers to search or obtain insurance of title to real estate or chattels taken as security;</span></p><p dir="ltr" class="s2071494Normal-000001"><span class="s2071494DefaultParagraphFont">(9)    To maintain adequate insurance against such other risks relating to the bank premises, its deposits, vaults and offices as he may determine to be necessary and appropriate for the protection of deposits and the public.</span></p><p dir="ltr" class="s2071494Normal"><span xml:space="preserve" class="s2071494000002"> </span></p><p dir="ltr" class="s2071494Normal"><span class="s2071494SCL">Source:</span><span xml:space="preserve" class="s2071494SCL-000003"> SL 1915, ch 102, art 2, § 21; RC 1919, § 8968; SDC 1939, § 6.0434; SDCL, § 51-12-1; SL 1969, ch 11, § 2.17 (3); SL 1970, ch 265, § 11; SL 1988, ch 377, § 40; SDCL, § 51-16-26.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071495Normal { 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.s2071495SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071495CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071495Normal-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.s2071495DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071495000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071495SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071495SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071495Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-25"><span class="s2071495SENU">51A-2-25</span></a><span xml:space="preserve" class="s2071495SENU">. </span><span class="s2071495CL">Temporary order of director against unsound practice.</span></p><p dir="ltr" class="s2071495Normal-000000"><span class="s2071495DefaultParagraphFont">The director may issue a temporary order having force until the next regular meeting of the commission, or special meeting of the commission if requested by the director or by a member of the commission, requiring that any person cease and desist from engaging in any unsound or unlawful banking practice.</span></p><p dir="ltr" class="s2071495Normal"><span xml:space="preserve" class="s2071495000001"> </span></p><p dir="ltr" class="s2071495Normal"><span class="s2071495SCL">Source:</span><span xml:space="preserve" class="s2071495SCL-000002"> SL 1969, ch 11, § 2.17 (4); SL 1970, ch 265, § 12; SL 1981, ch 346, § 10; SL 1988, ch 377, § 41; SDCL § 51-16-27; SL 2008, ch 252, § 9.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071496Normal { 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.s2071496SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071496CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071496Normal-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.s2071496DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071496000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071496SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071496SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071496Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-26"><span class="s2071496SENU">51A-2-26</span></a><span xml:space="preserve" class="s2071496SENU">. </span><span class="s2071496CL">Permanent order of commission against unsound practice.</span></p><p dir="ltr" class="s2071496Normal-000000"><span xml:space="preserve" class="s2071496DefaultParagraphFont">The commission may enter, subject to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071496DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2071496DefaultParagraphFont">, a permanent order, upon the return to it of a temporary order, issued by the director pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-25"><span class="s2071496DefaultParagraphFont">51A-2-25</span></a><span xml:space="preserve" class="s2071496DefaultParagraphFont"> and a showing that the bank has engaged in unsound or unlawful practices.</span></p><p dir="ltr" class="s2071496Normal"><span xml:space="preserve" class="s2071496000001"> </span></p><p dir="ltr" class="s2071496Normal"><span class="s2071496SCL">Source:</span><span xml:space="preserve" class="s2071496SCL-000002"> SL 1981, ch 346, § 13; SL 1988, ch 377, § 42; SDCL, § 51-16-27.1.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071497Normal { 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.s2071497SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071497CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071497Normal-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.s2071497DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071497000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071497SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071497SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071497Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-27"><span class="s2071497SENU">51A-2-27</span></a><span xml:space="preserve" class="s2071497SENU">. </span><span class="s2071497CL">Injunctive relief.</span></p><p dir="ltr" class="s2071497Normal-000000"><span xml:space="preserve" class="s2071497DefaultParagraphFont">If a person or bank that is subject to an order entered by the director or the commission pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-22"><span class="s2071497DefaultParagraphFont">51A-2-22</span></a><span xml:space="preserve" class="s2071497DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-25"><span class="s2071497DefaultParagraphFont">51A-2-25</span></a><span xml:space="preserve" class="s2071497DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-26"><span class="s2071497DefaultParagraphFont">51A-2-26</span></a><span class="s2071497DefaultParagraphFont">, fails to comply with such order, the director or commission may seek an injunction from the circuit court in the county in which the bank is located, ordering such person or bank to cease and desist from the unsound or unlawful banking practice. An injunction shall be granted upon a showing that certain practices were engaged in that are contrary to sound banking practices, and that these practices contributed to the financial detriment of the bank.</span></p><p dir="ltr" class="s2071497Normal"><span xml:space="preserve" class="s2071497000001"> </span></p><p dir="ltr" class="s2071497Normal"><span class="s2071497SCL">Source:</span><span xml:space="preserve" class="s2071497SCL-000002"> SL 1981, ch 346, § 11; SL 1988, ch 377, § 43; SDCL, § 51-16-27.2</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071498Normal { 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.s2071498SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071498CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071498Normal-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.s2071498DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071498000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071498SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071498SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071498Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-28"><span class="s2071498SENU">51A-2-28</span></a><span xml:space="preserve" class="s2071498SENU">. </span><span class="s2071498CL">Seal of director.</span></p><p dir="ltr" class="s2071498Normal-000000"><span class="s2071498DefaultParagraphFont">The director shall have a seal of office containing the words "Director of the Division of Banking of South Dakota" in the form of a circle and the word "Seal" inside the circle.</span></p><p dir="ltr" class="s2071498Normal"><span xml:space="preserve" class="s2071498000001"> </span></p><p dir="ltr" class="s2071498Normal"><span class="s2071498SCL">Source:</span><span xml:space="preserve" class="s2071498SCL-000002"> SL 1909, ch 222, art 1, § 3; SL 1911, ch 256, § 3; SL 1915, ch 102, art 1, § 3; RC 1919, § 8919; SDC 1939, § 6.0214; SDCL, § 51-2-29; SL 1969, ch 11, § 2.18; SL 1988, ch 377, § 44; SDCL, § 51-16-28.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071499Normal { 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.s2071499SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071499CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071499Normal-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.s2071499DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071499000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071499SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071499SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071499Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-29"><span class="s2071499SENU">51A-2-29</span></a><span xml:space="preserve" class="s2071499SENU">. </span><span class="s2071499CL">Record of fees--Disposition of money collected.</span></p><p dir="ltr" class="s2071499Normal-000000"><span class="s2071499DefaultParagraphFont">The division shall keep an official record of all fees collected and of all expenses incurred pursuant to this title. All money so collected shall be reported and paid to the state treasurer and deposited in the banking revolving fund.</span></p><p dir="ltr" class="s2071499Normal"><span xml:space="preserve" class="s2071499000001"> </span></p><p dir="ltr" class="s2071499Normal"><span class="s2071499SCL">Source:</span><span xml:space="preserve" class="s2071499SCL-000002"> SL 1909, ch 222, art 1, §§ 2, 6, 18; SL 1911, ch 256, §§ 2, 6, 30; SL 1915, ch 102, art 1, §§ 2, 6, 29; SL 1917, ch 140, §§ 1, 2; RC 1919, §§ 8922, 8945; SL 1921, ch 135; SL 1933, ch 56; SDC 1939, § 6.0217; SL 1941, ch 14, § 1; SDCL, § 51-2-32; SL 1969, ch 11, § 2.19; SL 1978, ch 355, § 3; SL 1981, ch 346, § 14; SL 1986, ch 399, § 1; SL 1988, ch 377, § 45; SDCL, § 51-16-29.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071500Normal { 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.s2071500SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071500CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071500Normal-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.s2071500DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071500000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071500SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071500SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071500Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-30"><span class="s2071500SENU">51A-2-30</span></a><span xml:space="preserve" class="s2071500SENU">. </span><span class="s2071500CL">Banking special revenue fund created--Disbursements.</span></p><p dir="ltr" class="s2071500Normal-000000"><span class="s2071500DefaultParagraphFont">There is hereby created in the state treasury the banking special revenue fund. Moneys deposited to this fund shall be expended as directed by the Legislature.</span></p><p dir="ltr" class="s2071500Normal"><span xml:space="preserve" class="s2071500000001"> </span></p><p dir="ltr" class="s2071500Normal"><span class="s2071500SCL">Source:</span><span xml:space="preserve" class="s2071500SCL-000002"> SL 1978, ch 355, § 2; SL 1988, ch 377, § 46; SDCL, § 51-16-29.1.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071501Normal { 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.s2071501SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071501CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071501Normal-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.s2071501DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071501Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071501000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071501SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071501SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071501Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-31"><span class="s2071501SENU">51A-2-31</span></a><span xml:space="preserve" class="s2071501SENU">. </span><span class="s2071501CL">Copies of official records and papers in office of division--Evidentiary value--Fee for certified copy.</span></p><p dir="ltr" class="s2071501Normal-000000"><span class="s2071501DefaultParagraphFont">Copies of all official records and papers in the office of the Division of Banking, certified by the director and authenticated by the official seal, shall be received in evidence in all courts of this state with like force as the originals thereof.</span></p><p dir="ltr" class="s2071501Normal-000001"><span class="s2071501DefaultParagraphFont">Whenever any certified copy of any record or paper filed in the office of the division is furnished by it, it shall charge and collect a fee of not more than fifty cents per page. The amount of the fee shall be set to reflect actual costs. All such fees shall be paid into the state treasury to the credit of the banking special revenue fund.</span></p><p dir="ltr" class="s2071501Normal"><span xml:space="preserve" class="s2071501000002"> </span></p><p dir="ltr" class="s2071501Normal"><span class="s2071501SCL">Source:</span><span xml:space="preserve" class="s2071501SCL-000003"> SDC 1939, § 6.0218; SL 1941, ch 14, § 2; SDCL, §§ 51-2-30, 51-2-31; SL 1969, ch 11, § 2.20; SL 1981, ch 346, § 15; SL 1988, ch 377, § 47; SDCL, § 51-16-30.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071502Normal { 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.s2071502SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071502CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071502Normal-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.s2071502DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071502DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071502000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071502SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071502SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071502Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-32"><span class="s2071502SENU">51A-2-32</span></a><span xml:space="preserve" class="s2071502SENU">. </span><span class="s2071502CL">Oaths and bonds of commissioners, director, deputy director, examiners and special examiners, and other division personnel.</span></p><p dir="ltr" class="s2071502Normal-000000"><span class="s2071502DefaultParagraphFont">Before entering upon his duties, each of the persons hereinafter mentioned, and such other persons in positions of trust named by the commission, shall take and subscribe to the oath of office prescribed by the Constitution, and each shall give to the state a corporate surety bond to be approved, recorded, and filed as the official bonds of other state officers, conditioned for the faithful discharge of the duties of his office. Such bonds may be in individual, schedule, or blanket form and shall be in the following sums: the director, twenty</span><span class="s2071502DefaultParagraphFont-000001">-</span><span class="s2071502DefaultParagraphFont">five thousand dollars; the deputy director, twenty</span><span class="s2071502DefaultParagraphFont-000001">-</span><span class="s2071502DefaultParagraphFont">five thousand dollars; examiners and special examiners, each, twenty</span><span class="s2071502DefaultParagraphFont-000001">-</span><span class="s2071502DefaultParagraphFont">five thousand dollars; all other persons, in an amount fixed by the commission. The premium for the bond of all such officers shall be paid as provided by law for the bonds of other public officers.</span></p><p dir="ltr" class="s2071502Normal"><span xml:space="preserve" class="s2071502000002"> </span></p><p dir="ltr" class="s2071502Normal"><span class="s2071502SCL">Source:</span><span xml:space="preserve" class="s2071502SCL-000003"> SL 1909, ch 222, art 1, § 2; SL 1911, ch 256, § 2; SL 1915, ch 102, art 1, § 2; SL 1917, ch 140, § 1; RC 1919, § 8918; SL 1921, ch 135; SL 1933, ch 47, § 3; SL 1933, ch 56; SDC 1939, § 6.0202; SDCL, §§ 51-2-11, 51-2-13; SL 1969, ch 11, § 2.22; SL 1989, ch 408; SDCL, § 51-16-32.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071503Normal { 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.s2071503SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071503CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071503Normal-000000 { 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.s2071503DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071503Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2071503Normal-000002 { text-indent: 0.25in; 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.s2071503000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071503SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071503SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071503Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-33"><span class="s2071503SENU">51A-2-33</span></a><span xml:space="preserve" class="s2071503SENU">. </span><span class="s2071503CL">Secrecy oath of commissioners, director and division officers and employees--Exceptions to secrecy requirements.</span></p><p dir="ltr" class="s2071503Normal-000000"><span class="s2071503DefaultParagraphFont">Before entering upon the discharge of his duties, each member of the commission, the director, and all officers and employees of the division shall take an oath to keep secret all facts and information obtained in the discharge of his official duties, except:</span></p><p dir="ltr" class="s2071503Normal-000001"><span class="s2071503DefaultParagraphFont">(1)    As the public duty of such officer or appointee requires him to report upon or take special action regarding the affairs of any bank;</span></p><p dir="ltr" class="s2071503Normal-000001"><span class="s2071503DefaultParagraphFont">(2)    Information with reference to a suspended bank which may be made public if, in the discretion of the director, it is to the best interests of the creditors thereof;</span></p><p dir="ltr" class="s2071503Normal-000001"><span class="s2071503DefaultParagraphFont">(3)    If called as a witness in a court or before any committee of either house of the Legislature;</span></p><p dir="ltr" class="s2071503Normal-000001"><span class="s2071503DefaultParagraphFont">(4)    The director or any of his appointees may disclose to the federal reserve board, the Federal Deposit Insurance Corporation, or the office of the comptroller of the currency, or the examiners appointed by them, all information with reference to the affairs of any state bank which is insured by the Federal Deposit Insurance Corporation, and to this end, the director, the federal reserve board, the Federal Deposit Insurance Corporation, and the office of the comptroller of the currency may exchange reports of examinations made by them;</span></p><p dir="ltr" class="s2071503Normal-000001"><span class="s2071503DefaultParagraphFont">(5)    The director may disclose reports of examinations to other state banking agencies on a reciprocal basis. Five days prior to the release of such reports, the director shall inform the chief executive officer and board of directors of the bank whose report is being released of the director's intention to make the release and of the name of the agency to which the report will be released.</span></p><p dir="ltr" class="s2071503Normal-000002"><span class="s2071503DefaultParagraphFont">A violation of the oath is a Class 2 misdemeanor.</span></p><p dir="ltr" class="s2071503Normal"><span xml:space="preserve" class="s2071503000003"> </span></p><p dir="ltr" class="s2071503Normal"><span class="s2071503SCL">Source:</span><span xml:space="preserve" class="s2071503SCL-000004"> SL 1909, ch 222, art 1, § 7; SL 1911, ch 256, § 7; SL 1915, ch 102, art 1, § 7; SL 1917, ch 140, § 3; RC 1919, § 8923; SL 1919, ch 120; SL 1931, ch 89; SL 1935, ch 55; SDC 1939, § 6.0203; SDCL, § 51-2-12; SL 1969, ch 11, § 2.23; SL 1980, ch 24, § 83; SL 1981, ch 346, § 17; SL 1988, ch 377, § 48; SDCL, § 51-16-33.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071504Normal { 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.s2071504SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071504CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071504Normal-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.s2071504DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071504Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071504DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071504000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071504SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071504SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071504Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-34"><span class="s2071504SENU">51A-2-34</span></a><span xml:space="preserve" class="s2071504SENU">. </span><span class="s2071504CL">Interest in bank by division officers or employees prohibited--Relinquishment of interest by director or deputy for term of office.</span></p><p dir="ltr" class="s2071504Normal-000000"><span class="s2071504DefaultParagraphFont">No officer or employee of the division may be an officer, director, trustee, attorney, owner, shareholder or partner in any state bank, nor receive any payment or gratuity directly or indirectly from that organization, nor be indebted to any state bank, nor engage in negotiation of loans for others with any such bank.</span></p><p dir="ltr" class="s2071504Normal-000001"><span class="s2071504DefaultParagraphFont">The director or the deputy director shall have a reasonable length of time after his appointment to sell or to relinquish any interest he owns in a state</span><span class="s2071504DefaultParagraphFont-000002">-</span><span class="s2071504DefaultParagraphFont">chartered bank in this state by transferring that interest to a nonrelated trustee for the tenure of his office.</span></p><p dir="ltr" class="s2071504Normal"><span xml:space="preserve" class="s2071504000003"> </span></p><p dir="ltr" class="s2071504Normal"><span class="s2071504SCL">Source:</span><span xml:space="preserve" class="s2071504SCL-000004"> SL 1909, ch 222, art 1, § 2; SL 1911, ch 256, § 2; SL 1915, ch 102, art 1, § 2; SL 1917, ch 140, § 1; RC 1919, § 8918; SL 1921, ch 135; SL 1925, ch 102, § 2; SL 1927, ch 56; SL 1933, ch 56; SDC 1939, § 6.0210; SDCL, §§ 51-2-26, 51-2-27; SL 1969, ch 11, § 2.24; SL 1970, ch 265, § 13; SL 1983, ch 355; SL 1988, ch 377, § 49; SDCL, § 51-16-34.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071505Normal { 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.s2071505SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071505CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071505Normal-000000 { 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.s2071505DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071505Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2071505Normal-000002 { text-indent: 0.25in; 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.s2071505000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071505SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071505SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071505Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-35"><span class="s2071505SENU">51A-2-35</span></a><span xml:space="preserve" class="s2071505SENU">. </span><span class="s2071505CL">Records of division open to public inspection--Exceptions--Court order.</span></p><p dir="ltr" class="s2071505Normal-000000"><span class="s2071505DefaultParagraphFont">The records of the division are open to public inspection. However:</span></p><p dir="ltr" class="s2071505Normal-000001"><span class="s2071505DefaultParagraphFont">(1)    The director may withhold from public inspection any record, including any correspondence, for so long as deemed necessary for the protection of a person or bank or to be in the public interest;</span></p><p dir="ltr" class="s2071505Normal-000001"><span class="s2071505DefaultParagraphFont">(2)    The director shall withhold from public inspection any record required to be confidential pursuant to federal statutes or rules or regulations of the board of governors of the federal reserve system or the Federal Deposit Insurance Corporation; and</span></p><p dir="ltr" class="s2071505Normal-000001"><span class="s2071505DefaultParagraphFont">(3)    Reports of examination shall remain the property of the division and shall be furnished to the bank for its confidential use. Under no circumstances may the report or any supporting documentation be disclosed to anyone, other than directors and officers of the bank or anyone who is acting in a fiduciary capacity for the bank, without written permission from the director.</span></p><p dir="ltr" class="s2071505Normal-000002"><span class="s2071505DefaultParagraphFont">Any record of the division shall be made available upon order of a court of competent jurisdiction if cause is shown.</span></p><p dir="ltr" class="s2071505Normal"><span xml:space="preserve" class="s2071505000003"> </span></p><p dir="ltr" class="s2071505Normal"><span class="s2071505SCL">Source:</span><span xml:space="preserve" class="s2071505SCL-000004"> SL 1969, ch 11, § 2.26; SL 1970, ch 265, § 14; SDCL, § 51-16-36; SL 1999, ch 234, § 1.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071506Normal { 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.s2071506SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071506CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071506Normal-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.s2071506DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071506000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071506SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071506SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071506Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-36"><span class="s2071506SENU">51A-2-36</span></a><span xml:space="preserve" class="s2071506SENU">. </span><span class="s2071506CL">Examination and supervision fees.</span></p><p dir="ltr" class="s2071506Normal-000000"><span xml:space="preserve" class="s2071506DefaultParagraphFont">The division shall charge and collect a fee from all banks to cover the cost of examining and supervising banks based upon asset size and other factors as established by the commission. The commission shall set the fee and the other factors by rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071506DefaultParagraphFont">1-26</span></a><span class="s2071506DefaultParagraphFont">.</span></p><p dir="ltr" class="s2071506Normal"><span xml:space="preserve" class="s2071506000001"> </span></p><p dir="ltr" class="s2071506Normal"><span class="s2071506SCL">Source:</span><span xml:space="preserve" class="s2071506SCL-000002"> SL 1989, ch 409; SDCL § 51-16-37.1; SL 2008, ch 252, § 10.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071507Normal { 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.s2071507SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071507CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071507Normal-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.s2071507DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071507000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071507SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071507SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071507Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-37"><span class="s2071507SENU">51A-2-37</span></a><span xml:space="preserve" class="s2071507SENU">. </span><span class="s2071507CL">Examinations of parent corporations by director--Penalty for refusal to allow examination.</span></p><p dir="ltr" class="s2071507Normal-000000"><span xml:space="preserve" class="s2071507DefaultParagraphFont">If the director considers it necessary, the director may examine the books and records of a corporation that holds twenty-five percent or more of the stock of a bank. If any parent corporation of a state chartered bank refuses to give any information required in the course of an examination, that parent corporation is subject to a civil fine of one thousand dollars for each day that the refusal continues. Continued refusal may result in the taking and possession of such bank as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-15-11"><span class="s2071507DefaultParagraphFont">51A-15-11</span></a><span class="s2071507DefaultParagraphFont">.</span></p><p dir="ltr" class="s2071507Normal"><span xml:space="preserve" class="s2071507000001"> </span></p><p dir="ltr" class="s2071507Normal"><span class="s2071507SCL">Source:</span><span xml:space="preserve" class="s2071507SCL-000002"> SL 1969, ch 11, § 2.28; SL 1970, ch 265, § 15; SL 1980, ch 24, § 84; SL 1981, ch 346, § 18; SL 1983, ch 357; SL 1988, ch 377, § 51; SDCL § 51-16-38; SL 2008, ch 252, § 11.</span></p></div></body></html><br /><hr><br /><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-2 - DIVISION OF BANKING </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071508Normal { 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.s2071508SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071508CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2071508Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=51A-2-38"><span class="s2071508SENU">51A-2-38</span></a><span xml:space="preserve" class="s2071508SENU"> to 51A-2-43. </span><span class="s2071508CL">Repealed by SL 2012, ch 252, §§ 4 to 9.</span></p></div></body></html>