2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 15 - Suspension And Liquidation Of Banks
§ 51A-15-3 Notice of voluntary liquidation--Manner of publication--Contents.
51A-15-3. Notice of voluntary liquidation--Manner of publication--Contents. Within thirty days of the approval, a notice of voluntary liquidation shall be:
(1) Mailed to the last known post-office address of each depositor, creditor, person interested in funds held as a fiduciary, lessee of a safe deposit box or bailor of property;
(2) Posted conspicuously on the premises of the bank; and
(3) Published as the director shall require.
The bank shall mail with the notice a statement of the amount shown on its books to be the claim of the depositor or creditor. The notice shall also demand that property held by the bank as bailee or in a safe deposit box be withdrawn by the person entitled thereto within thirty days. The notice shall direct that objections of depositors and creditors, if the amount claimed differs from that in such statement be filed with the bank before a specified date which shall not be less than sixty days from the date of first publication in accordance with the procedure described therein. The notice shall also include such other information as the director or the bank may deem pertinent.
Source: SL 1969, ch 11, § 13.2 (2); SL 1970, ch 265, § 61; SDCL, § 51-27-3.
