§ 51A-3-1 Corporation laws applicable to banks
§ 51A-3-1.1 Bank organized as limited liability company–Rules
§ 51A-3-2 Articles of incorporation or articles of organization–Content–Name of bank–Capital stock or members’ equity
§ 51A-3-3 Incorporators of bank
§ 51A-3-4 Minimum capital
§ 51A-3-5 Sale price of original stock issue or original issue of members’ equity–Excess credited to surplus
§ 51A-3-6 Transfers to surplus
§ 51A-3-7 Applications–Fee
§ 51A-3-8 Acceptance of application for charter
§ 51A-3-9 Conditions to be considered in ruling on application
§ 51A-3-10 Hearing on application
§ 51A-3-12 Endorsement and filing of approved articles–Notice of disapproval
§ 51A-3-13 Subscription of shares–Minimum collection–Refund on disapproval of application
§ 51A-3-14 Call by incorporators for full payment of subscriptions–Issuance of certificate of authority by director–Commencement of business within one year
§ 51A-3-15 Applications for branch banks and detached drive-in facilities–Applicable provisions
§ 51A-3-16 Preferred stock, capital notes, and debentures–Director approval of issuance–Terms of issue–Director approval of retirement or payment
§ 51A-3-17 Preferred stock, capital notes, and debentures outstanding–Restrictions on dividends
§ 51A-3-17.1 Dividends–Definition
§ 51A-3-18 Dividends–Restrictions and requirements for declaration
§ 51A-3-19 Approval of director required for unusually large dividends
§ 51A-3-20 Recovery of dividends paid when capital impaired
§ 51A-3-21 Net profits defined
§ 51A-3-22 Amendment of articles of incorporation–Changes requiring approval of director–Filing of amendments
§ 51A-3-23 Extension of charter
§ 51A-3-24 Reporting transfers of stock
§ 51A-3-25 Change in control of bank
§ 51A-3-26 Lien on shares–Enforcement–Marking of certificates
§ 51A-3-27 Purchase or purchase money loans on security of own stock prohibited–Exception
§ 51A-3-28 Credit of dividends, interest, or profits on indebtedness–Foreclosure of lien
§ 51A-3-30 Adoption and approval of bylaws
§ 51A-3-31 Indemnification of officers, directors, or employees
§ 51A-3-32 Board of directors–Number of members–Citizenship requirements–Election
§ 51A-3-33 Removal of directors–Vote required
§ 51A-3-34 Board of directors–Meetings
§ 51A-3-35 Election of officers–Terms–Vacancies
§ 51A-3-36 Names of officers and information forwarded to director–Vacancy on refusal to confirm
§ 51A-3-37 Bonds of officers and employees
§ 51A-3-38 Insurance protection
§ 51A-3-39 Amount of bonds and insurance prescribed by bank directors–Approval by director of division
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Terms Used In South Dakota Codified Laws > Title 51A > Chapter 3 - Organization, Applications, and Capital Structure of Banking Corporations

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • 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.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Intestate: Dying without leaving a will.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Testate: To die leaving a will.
  • 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