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2020 South Dakota Codified Laws
Title 51A - Banks and Banking
Chapter 10 - Bank Deposits
Section 51A-10-11 - Loans prohibited when reserve deficient.
Universal Citation: SD Codified L § 51A-10-11 (2020)
51A-10-11. Loans prohibited when reserve deficient.
Whenever the reserve of any bank shall fall below the legal amount required, such bank shall not increase its loans or discounts otherwise than by discounting or purchasing bills of exchange payable at sight or on demand.
Source: SL 1909, ch 222, art 2, §28; SL 1915, ch 102, art 2, §32; RC 1919, §8979; SDC 1939, §6.0427; SDCL, §51-10-8; SL 1969, ch 11, §8.14; SDCL, §51-22-17.
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