Chapter 03 - Organization, Applications, And Capital Structure Of Banking Corporations

SOUTH DAKOTA STATUTES AND CODES

Chapter 03 - Organization, Applications, And Capital Structure Of Banking Corporations

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--Capitalstock or members' equity.
Section 51A-3-3 - Incorporators of bank.
Section 51A-3-4 - Minimum capital stock.
Section 51A-3-5 - Sale price of original stock issue or original issue of members' equity--Excesscredited to surplus.
Section 51A-3-6 - Transfers to surplus.
Section 51A-3-7 - Applications--Deposit for cost of processing.
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Section 51A-3-11 - Repealed.
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 applicationfor charter.
Section 51A-3-14 - Call by incorporators for full payment of subscriptions--Issuance of certificate ofauthority by director--Commencement of business within one year.
Section 51A-3-15 - Applications for branch banks and detached drive-in facilities--Applicableprovisions.
Section 51A-3-16 - Preferred stock, capital notes, and debentures--Director approval of issuance--Termsof 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 - Voting trust agreement.
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 - Meetings of directors.
Section 51A-3-35 - Election of officers--Terms--Vacancies.
Sections 51A-3-36, 51A-3-37 - Names of officers and information forwarded to director--Vacancy on refusal to confirm. Bonds of officers and employees
Section 51A-3-38 - Insurance protection.

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Chapter 03 - Organization, Applications, And Capital Structure Of Banking Corporations

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