Sale of surplus federal reserve funds and excess bank funds not loan.

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  5. Sale of surplus federal reserve funds and excess bank funds not loan.

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51A-12-10. Sale of surplus federal reserve funds and excess bank funds not loan.

The sale of surplus federal reserve funds and excess bank funds is not considered loans or obligations and are not subject to any limitation based on capital stock and surplus.

Source: SL 1969, ch 11, §10.4; SDCL, §51-24-7; SL 1988, ch 377, §146; SDCL, §51-24-9.2.


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