{"data":{"id":"us-sd/sdcl-51a-15-11","jurisdiction":"us-sd","citation":"SDCL § 51A-15-11","heading":"Director's authority to suspend activities and take possession of bank--Grounds.","body":"After a hearing with three days' oral or written notice to a majority of the members of the board of directors, the director may, with the consent of a majority of the members of the commission, suspend all activities and take possession of the business and property of a bank if the director finds:\n(1) The bank's capital is impaired or the bank is otherwise in an unsound condition;\n(2) The bank's business is being conducted in an unlawful or unsound manner;\n(3) The bank is unable to continue normal operations;\n(4) The bank refuses to permit, obstructs, or impedes an examination as provided in § 51A-2-18;\n(5) The bank places its affairs and assets under the control of the director;\n(6) A parent corporation refuses to permit, obstructs, or impedes an examination as provided in § 51A-2-37;\n(7) The bank is insolvent; or\n(8) The bank's insurance has been terminated pursuant to an action initiated by the Federal Deposit Insurance Corporation under 12 U.S.C. § 1818(a), as of January 1, 2015.\nSource: SL 1909, ch 222, art 1, § 9; SL 1909, ch 222, art 2, § 20; SL 1911, ch 256, §§ 9, 26; SL 1915, ch 102, art 1, § 9; SL 1915, ch 102, art 2, § 23; RC 1919, §§ 8925, 8970, 9056; SDC 1939, § 6.0604; SDCL § 51-14-11; SL 1969, ch 11, § 13.5; SL 1970, ch 265, § 65; SL 1981, ch 346, § 68; SL 1982, ch 336, § 2; SL 1988, ch 377, § 165; SDCL § 51-27-10; SL 2015, ch 239, § 9.","path":["TITLE 51A. BANKS AND BANKING","CHAPTER 51A-15. SUSPENSION AND LIQUIDATION OF BANKS"],"source_url":"https://sdlegislature.gov/Statutes/51A-15-11","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"2036954bb608d289f60de3b9b1f20007a56af8dd520ed162c70f45be8ea45ab0","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-51a-15-10","next":"us-sd/sdcl-51a-15-12"},"notice":"GroundRules: Original legal text. Not legal advice."}