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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-3-28 Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.
Universal Citation: SD Codified L § 51A-3-28 (2017)
51A-3-28. Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien. While any indebtedness under § 51A-3-26 exists, all dividends, interest, or profits on such stock, if any, shall be credited by the bank on such indebtedness in the event the bank has exercised its rights to acquire or purchase the stock. The lien hereby created in favor of the bank may be foreclosed by such bank in the manner provided by law for the foreclosure of liens.
Source: SL 1909, ch 222, art 2, § 43; SL 1911, ch 255, § 22; SL 1915, ch 102, art 2, § 47; RC 1919, §§ 8995, 9052; SDC 1939, § 6.0310; SDCL, §§ 51-4-18, 51-4-19; SL 1969, ch 11, § 3.22; SL 1970, ch 265, § 23; SL 1988, ch 377, § 72; SDCL, § 51-17-25.
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