{"data":{"id":"us-sd/sdcl-51a-15-7","jurisdiction":"us-sd","citation":"SDCL § 51A-15-7","heading":"Distribution of assets after discharge of obligations on voluntary liquidation--Disposition of unclaimed distributions.","body":"Any assets remaining after the discharge of all obligations shall be distributed to the stockholders in accordance with their respective interests. No such distribution shall be made before:\n(1) All claims of depositors and creditors have been paid, or, in the case of any disputed claim, the bank has transmitted to the director a sum adequate to meet any liability that may be judicially determined;\n(2) Any funds payable to a depositor or creditor and unclaimed have been transmitted to the state treasurer; and\n(3) Approved by the director.\nAny unclaimed distribution to a stockholder or depositor shall be held until ninety days after the final distribution and then transmitted to the state treasurer for disposition pursuant to chapter 43-41B.\nSource: SL 1969, ch 11, § 13.2 (6); SL 1970, ch 265, § 63; SL 1974, ch 301, § 4; SDCL, § 51-27-7.","path":["TITLE 51A. BANKS AND BANKING","CHAPTER 51A-15. SUSPENSION AND LIQUIDATION OF BANKS"],"source_url":"https://sdlegislature.gov/Statutes/51A-15-7","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"e3973d46f02fd93ff6760cfa3eb2de73c22e23fa2c2f8803291632f60f81b600","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-51a-15-6","next":"us-sd/sdcl-51a-15-8"},"notice":"GroundRules: Original legal text. Not legal advice."}