Section 51A-3-4 - Minimum capital stock. - South Dakota Statutes

51A-3-4. Minimum capital stock. The total capital of every bank newly organized after July 1, 1982 shall be in such amount as the commission considers adequate provided that the total capital required be at least six percent of the total projected assets of the bank during its first three years of operation.

Source: SL 1909, ch 222, art 2, § 1; SL 1911, ch 255, § 3; SL 1915, ch 102, art 2, § 2; SL 1917, ch 145, § 1; RC 1919, §§ 8949, 9034; SL 1925, ch 95; SL 1927, ch 60; SDC 1939, § 6.0303; SL 1943, ch 15; SL 1959, ch 15; SDCL, §§ 51-4-1, 51-4-2; SL 1969, ch 11, § 3.4; SL 1981, ch 346, § 20; SL 1982, ch 334, § 3; SL 1988, ch 377, § 56; SDCL, § 51-17-4.