Section 51A-15-14 - Notice of suspension and possession. - South Dakota Statutes

51A-15-14. Notice of suspension and possession. The director shall suspend the activities and take possession pursuant to § 51A-15-10 or 51A-15-21 by posting upon the premises a notice reciting that all activities will be suspended and that he is assuming possession pursuant to this chapter and the time, not earlier than the posting of the notice, when his possession shall be deemed to commence. The notice shall also be filed in the circuit court for the county in which the bank is located. The director shall notify the federal reserve bank of the district of taking possession of any bank which is a member of the federal reserve system.

Source: SL 1969, ch 11, § 13.6(1); SL 1988, ch 377, § 166; SDCL, § 51-27-11.