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2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 03 - Organization, Applications, And Capital Structure Of Banking Corporations
§ 51A-3-21 Net profits defined.
Universal Citation: SD Codified L § 51A-3-21 (2017)
51A-3-21. Net profits defined. Net profits shall be equal to the net income or loss as reported by a bank in its reports of condition and income. In computing its net profits under this section, a bank may not add its provision for loan and lease losses to, nor deduct net charge offs from, its reported net income.
Source: SDCL, § 51-15-1(9); SL 1988, ch 377, § 1; SDCL, § 51-17-20.6; SL 1991, ch 390, § 3.
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