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2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 06A - Creation Of Trust Companies
§ 51A-6A-50.1 Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company.
Universal Citation: SD Codified L § 51A-6A-50.1 (2017)
51A-6A-50.1. Proceedings to legally dissolve charter of acquired, merged, or consolidated trust company. If a trust company has been acquired, merged, or consolidated with another trust company or financial institution, or its assets have been purchased and its liabilities assumed by another trust company or financial institution, in any instance other than an emergency, within thirty days thereafter, the directors of the trust company shall institute proceedings to legally dissolve its charter in the same manner as provided for voluntary liquidation in chapter 51A-15. However, no notice need be given pursuant to § 51A-15-3.
Source: SL 2015, ch 240, § 8.
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