Cancellation of voluntary liquidation

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SD Code › Title 51A › Chapter 15 › Section 51A-15-10

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

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A bank may, at any time prior to the director's cancellation of its charter, revoke its intention to voluntarily liquidate under § 51A-15-1 , if it receives approval of its action upon an affirmative vote of at least two - thirds of the voting shares of the bank. Written evidence of its intentions delivered to the director prior to cancellation are considered an effective revocation.

Source: SL 1988, ch 377, § 164; SDCL, § 51-27-9.1.

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