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2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 15 - Suspension And Liquidation Of Banks
§ 51A-15-10 Cancellation of voluntary liquidation.
Universal Citation: SD Codified L § 51A-15-10 (2017)
51A-15-10. Cancellation of voluntary liquidation. A bank may, at any time prior to the director's cancellation of its charter, revoke its intention to voluntarily liquidate under § 51A-15-1, if it receives approval of its action upon an affirmative vote of at least two-thirds of the voting shares of the bank. Written evidence of its intentions delivered to the director prior to cancellation are considered an effective revocation.
Source: SL 1988, ch 377, § 164; SDCL, § 51-27-9.1.
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