Disqualification of officer, employee or director for violation--Civil liability.

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2. South Dakota Codified Laws
3. Banks and Banking
4. Definitions, General Provisions And Penalties
5. Disqualification of officer, employee or director for violation--Civil liability.

51A-1-4. Disqualification of officer, employee or director for violation--Civil liability.

Any officer, employee or director of a bank who is convicted of violating any of the provisions of this title is disqualified from thereafter acting as an officer, employee or director of any bank and is liable in a civil action to such bank or any of its stockholders for all losses sustained by reason of such violations.

Source: SL 1925, ch 92; SL 1927, ch 53; SL 1933, ch 50; SDC 1939, §6.0441; SDCL, §51-1-6; SL 1969, ch 11, §1.3; SL 1988, ch 377, §2; SDCL, §51-15-3.

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