South Dakota Codified Laws 51A-15-10. Cancellation of voluntary liquidation
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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.
Terms Used In South Dakota Codified Laws 51A-15-10
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
Source: SL 1988, ch 377, § 164; SDCL, § 51-27-9.1.