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2019 South Dakota Codified Laws
Title 51A - Banks and Banking
Chapter 15 - Suspension And Liquidation Of Banks
§ 51A-15-31 Executory contracts of bank terminated after commencement of liquidation.
Universal Citation: SD Codified L § 51A-15-31 (2019)
51A-15-31. Executory contracts of bank terminated after commencement of liquidation. Within six months of the commencement of involuntary liquidation, the director or receiver may by his election terminate any executory contract for services or advertising to which a bank is a party or any obligation of a bank as a lessee. A lessor who receives sixty days' notice of the director's or receiver's election to terminate such a lease shall have no claim for rent other than rent accrued to the date of termination nor for damages for such termination.
Source: SL 1969, ch 11, § 13.14; SL 1970, ch 265, § 69; SL 1988, ch 377, § 174; SDCL, § 51-27-23.
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