Organization, Applications, And Capital Structure Of Banking Corporations

  1. Law
  2. South Dakota Codified Laws
  3. Banks and Banking
  4. Organization, Applications, And Capital Structure Of Banking Corporations

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Section
51A-3-1

Corporation laws applicable to banks.

Section
51A-3-1.1

Bank organized as limited liability company--Rules.

Section
51A-3-2

Articles of incorporation or articles of organization--Content--Name of bank--Capital stock or members' equity.

Section
51A-3-3

Incorporators of bank.

Section
51A-3-4

Minimum capital.

Section
51A-3-5

Sale price of original stock issue or original issue of members' equity--Excess credited to surplus.

Section
51A-3-6

Transfers to surplus.

Section
51A-3-7

Applications--Fee.

Section
51A-3-8

Acceptance of application for charter.

Section
51A-3-9

Conditions to be considered in ruling on application.

Section
51A-3-10

Hearing on application.

Section
51A-3-11

51A-3-11.Repealed by SL 2008, ch 252, §14.

Section
51A-3-12

Endorsement and filing of approved articles--Notice of disapproval.

Section
51A-3-13

Subscription of shares--Minimum collection--Refund on disapproval of application.

Section
51A-3-14

Call by incorporators for full payment of subscriptions--Issuance of certificate of authority by director--Commencement of business within one year.

Section
51A-3-15

Applications for branch banks and detached drive-in facilities--Applicable provisions.

Section
51A-3-16

Preferred stock, capital notes, and debentures--Director approval of issuance--Terms of issue--Director approval of retirement or payment.

Section
51A-3-17

Preferred stock, capital notes, and debentures outstanding--Restrictions on dividends.

Section
51A-3-17.1

Dividends--Definition.

Section
51A-3-18

Dividends--Restrictions and requirements for declaration.

Section
51A-3-19

Approval of director required for unusually large dividends.

Section
51A-3-20

Recovery of dividends paid when capital impaired.

Section
51A-3-21

Net profits defined.

Section
51A-3-22

Amendment of articles of incorporation--Changes requiring approval of director--Filing of amendments.

Section
51A-3-23

Extension of charter.

Section
51A-3-24

Reporting transfers of stock.

Section
51A-3-25

Change in control of bank.

Section
51A-3-26

Lien on shares--Enforcement--Marking of certificates.

Section
51A-3-27

Purchase or purchase money loans on security of own stock prohibited--Exception.

Section
51A-3-28

Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.

Section
51A-3-29

Repealed by SL 2012, ch 252, § 12.

Section
51A-3-30

Adoption and approval of bylaws.

Section
51A-3-31

Indemnification of officers, directors, or employees.

Section
51A-3-32

Board of directors--Number of members--Citizenship requirements--Election.

Section
51A-3-33

Removal of directors--Vote required.

Section
51A-3-34

Board of directors--Meetings.

Section
51A-3-35

Election of officers--Terms--Vacancies.

Section
51A-3-36

Names of officers and information forwarded to director--Vacancy on refusal to confirm.

Section
51A-3-37

Bonds of officers and employees.

Section
51A-3-38

Insurance protection.

Section
51A-3-39

Amount of bonds and insurance prescribed by bank directors--Approval by director of division.