{"data":{"id":"us-sd/sdcl-51a-3-32","jurisdiction":"us-sd","citation":"SDCL § 51A-3-32","heading":"Board of directors--Number of members--Citizenship requirements--Election.","body":"The board of directors of every bank shall consist of not less than five nor more than twenty-five members. At all times, at least three-fourths of the directors shall be citizens of the United States. With the exception of the president or the chief executive officer, the directors shall be elected by the shareholders.\nSource: SDC 1939, § 6.0315; SDCL, § 51-3-13; SL 1969, ch 11, § 3.26; SL 1970, ch 265, § 25; SL 1981, ch 346, § 26; SL 1983, ch 14, § 22; SL 1988, ch 377, § 75; SDCL, § 51-17-29; SL 1996, ch 279, § 1.","path":["TITLE 51A. BANKS AND BANKING","CHAPTER 51A-3. ORGANIZATION, APPLICATIONS, AND CAPITAL STRUCTURE OF BANKING CORPORATIONS"],"source_url":"https://sdlegislature.gov/Statutes/51A-3-32","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"7e000a6c1e56fef65e513f7f5700b4446723a574b6d7dd0098a6559ca5091e56","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-51a-3-31","next":"us-sd/sdcl-51a-3-33"},"notice":"GroundRules: Original legal text. Not legal advice."}