{"data":{"id":"us-sd/sdcl-51a-12-2","jurisdiction":"us-sd","citation":"SDCL § 51A-12-2","heading":"Loan or credit limitation.","body":"Except as otherwise provided in this title, no bank organized as a corporation or limited liability company may loan, or otherwise extend credit, to any corporation, partnership, or individual, an amount greater than the sum of:\n(1) Twenty percent of its capital stock or members' equity and surplus; and\n(2) Ten percent of its undivided profit.\nSuch limit shall be determined for each calendar quarter on the basis of the bank's quarterly report of condition for the immediately previous calendar quarter.\nSource: SL 1909, ch 222, art 2, § 29; SL 1915, ch 102, art 2, § 33; RC 1919, § 8980; SL 1923, ch 114; SL 1927, ch 59, § 1; SDC 1939, § 6.0428; SL 1943, ch 18; SL 1947, ch 27; SL 1957, ch 14; SL 1961, ch 19; SL 1963, ch 27; SDCL, § 51-11-7; SL 1969, ch 11, § 10.2; SL 1981, ch 346, § 52; SL 1987, ch 359; SL 1988, ch 377, § 144; SL 1990, ch 382; SDCL, § 51-24-2; SL 2004, ch 289, § 11.","path":["TITLE 51A. BANKS AND BANKING","CHAPTER 51A-12. BANK LOANS"],"source_url":"https://sdlegislature.gov/Statutes/51A-12-2","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"c2d2d66c874305db49e539155e6f10c016d8ba99f211df4a46c3ff810499e89b","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-51a-12-1","next":"us-sd/sdcl-51a-12-2.1"},"notice":"GroundRules: Original legal text. Not legal advice."}