15-2-19.Actions against bank directors, shareholders, agents, or employees.
No action may be brought against a director, shareholder, or an agent or employee of a bank or bank holding company, for any error, mistake, or omission, whether based on contract or tort, unless it is commenced within three years of the occurrence of the alleged error, mistake, or omission. For purposes of this section the term, bank, or, bank holding company, includes state banks as defined in Title 51A, national banks organized pursuant to 12 U.S.C. §21 as amended as of January 1, 2008, and federal savings associations organized pursuant to 12 U. S. C. §1464 as amended as of January 1, 2008.
Source: SDC 1939 & Supp 1960, §33.0212; SL 2008, ch 252, §45.