Distribution of assets remaining after liquidation.

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51A-15-42. Distribution of assets remaining after liquidation.

When the director or receiver has liquidated a bank, any assets remaining after all claims have been paid shall be distributed to the stockholders in accordance with their respective interests.

Source: SL 1911, ch 256, §19; SL 1915, ch 102, art 1, §24; RC 1919, §8940; SDC 1939, §6.0630; SDCL, §51-14-64; SL 1969, ch 11, §13.22; SL 1988, ch 377, §184; SDCL, §51-27-34.


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