GroundRules
SDCL § 51A-15-2: Ceasing to do business and winding up affairs on voluntary liquidation.
Where this section sits in the code
- TITLE 51A. BANKS AND BANKING
- CHAPTER 51A-15. SUSPENSION AND LIQUIDATION OF BANKS
Upon approval by the commission, pursuant to § 51A-15-1, a bank shall forthwith cease to do business, shall have only the powers necessary to effect an orderly liquidation and shall proceed to pay its depositors and creditors and to wind up its affairs.
Source: SL 1969, ch 11, § 13.2; SDCL, § 51-27-2.
Collected 2026-09-03T15:18:57Z. Source file · JSON