§ 51A-15-1 Voluntary liquidation–Requirements for approval
§ 51A-15-2 Ceasing to do business and winding up affairs on voluntary liquidation
§ 51A-15-3 Notice of voluntary liquidation–Manner of publication–Contents
§ 51A-15-4 Resignation of fiduciary positions and settlement of accounts on voluntaryliquidation
§ 51A-15-5 Disposition of safe deposit on voluntary liquidation
§ 51A-15-6 Depositor’s or creditor’s rights not impaired by voluntary liquidation–Return of safedeposit rental
§ 51A-15-7 Distribution of assets after discharge of obligations on voluntary liquidation–Disposition of unclaimed distributions
§ 51A-15-8 Authority of director to take possession of bank in voluntary liquidation
§ 51A-15-9 Reports of progress in voluntary liquidation–Order and certificate of dissolution
§ 51A-15-10 Cancellation of voluntary liquidation
§ 51A-15-11 Director’s authority to suspend activities and take possession of bank–Grounds
§ 51A-15-12 “Insolvent” defined
§ 51A-15-13 Receipt of deposits by insolvent bank unlawful–Felony
§ 51A-15-14 Notice of suspension and possession
§ 51A-15-15 Management and control powers of director in possession
§ 51A-15-16 Circuit court jurisdiction of proceedings–Venue
§ 51A-15-17 Change of venue
§ 51A-15-18 Director’s appointment of Federal Deposit Insurance Corporation as receiver inliquidation proceedings
§ 51A-15-19 Powers of Federal Deposit Insurance Corporation as receiver in liquidationproceedings–Actions to recover money damages
§ 51A-15-20 Postponement of limitation periods on director’s taking actions
§ 51A-15-21 Director’s authority to take action in emergency without majority consent ofcommission
§ 51A-15-22 Applications to enjoin director from suspending activities and taking possession ofbank
§ 51A-15-23 Proceedings exempt from open meetings and administrative procedure laws
§ 51A-15-24 Reorganization of bank by director–Distribution and effect of reorganization plan
§ 51A-15-25 Execution of lien on assets of bank in director’s or receiver’s possession prohibited–Powers of director
§ 51A-15-26 Borrowing money by director in possession
§ 51A-15-27 Expenses of director paid from assets
§ 51A-15-28 Requirements for adoption of reorganization plan
§ 51A-15-29 Modification of reorganization plan or liquidation of bank–Grounds and noticerequirements
§ 51A-15-30 Limitations on powers of director or receiver in liquidating bank
§ 51A-15-31 Executory contracts of bank terminated after commencement of liquidation
§ 51A-15-32 Fiduciary positions of bank terminated after commencement of liquidation
§ 51A-15-33 Subrogation rights of Federal Deposit Insurance Corporation in liquidation of bank
§ 51A-15-34 Notice of liquidation by director or receiver
§ 51A-15-35 Disposition of safe deposit boxes in liquidation by director or receiver
§ 51A-15-36 Settlement of claims by director or receiver in liquidation proceedings
§ 51A-15-37 Objections to schedule of determinations in settlement of claims
§ 51A-15-38 Partial distributions to claim holders authorized–Final distribution
§ 51A-15-39 Priority of claims in liquidation proceedings
§ 51A-15-40 Payment of claims not filed within time prescribed
§ 51A-15-41 Prorata payment of claims authorized
§ 51A-15-42 Distribution of assets remaining after liquidation
§ 51A-15-43 Disposition of unclaimed funds after liquidation
§ 51A-15-44 Accounting by director or receivers after liquidation–Cancellation of charter–Orderand certificate of dissolution
§ 51A-15-45 Instruments affecting real estate executed on behalf of insolvent banks validated
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Terms Used In South Dakota Codified Laws > Title 51A > Chapter 15 - Suspension and Liquidation of Banks

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Statute: A law passed by a legislature.
  • Venue: The geographical location in which a case is tried.
  • 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