South Dakota Codified Laws 51A-15-13. Receipt of deposits by insolvent bank unlawful–Felony
Current as of: 2023 | Check for updates
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No bank may receive any deposit when insolvent. No officer, director or employee who knows, or in the proper performance of his duty should know, of such insolvency may receive or authorize the receipt of such deposit. Any person violating this section shall be guilty of a Class 5 felony.
Attorney's Note
Under the South Dakota Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 5 felony | up to 5 years | up to $10,000 |
Terms Used In South Dakota Codified Laws 51A-15-13
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1891, ch 27, § 25; RCivC 1903, § 871; SL 1909, ch 222, art 2, § 45; SL 1911, ch 255, § 12; SL 1915, ch 102, art 2, § 49; RC 1919, §§ 8998, 9042; SDC 1939, § 6.9909; SDCL, § 51-10-3; SL 1969, ch 11, § 1.7; SL 1970, ch 265, § 1; SL 1980, ch 24, § 77; SDCL, § 51-15-7; SL 1988, ch 377, § 6; SDCL, § 51-27-10.2.