South Dakota Codified Laws 51A-3-21. Net profits defined
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Net profits shall be equal to the net income or loss as reported by a bank in its reports of condition and income. In computing its net profits under this section, a bank may not add its provision for loan and lease losses to, nor deduct net charge offs from, its reported net income.
Terms Used In South Dakota Codified Laws 51A-3-21
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Source: SDCL, § 51-15-1(9); SL 1988, ch 377, § 1; SDCL, § 51-17-20.6; SL 1991, ch 390, § 3.