There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 51A BANKS AND BANKING
Chapter 12. Bank Loans
§51A-12-8 Liability of officers and directors for excessive loans.
SD Codified L § 51A-12-8 (through 2011) What's This?
51A-12-8. Liability of officers and directors for excessive loans. The issuing officer, the chief executive or managing officer and the board of directors of a bank shall be held personally liable for all excessive loans, until they are in compliance, including overdrafts which could create excess. Such liability shall remain in effect for so long as any such loans may be in excess of the amount limited by law.
Source: SL 1909, ch 222, art 2, § 38; SL 1915, ch 102, art 2, § 42; RC 1919, § 8990; SDC 1939, § 6.0431; SDCL, § 51-11-11; SL 1969, ch 11, § 10.6; SL 1981, ch 346, § 55; SL 1988, ch 377, § 149; SDCL, § 51-24-9.
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