# S.D. Codified Laws § 51A-15-10: Cancellation of voluntary liquidation

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-10

## Section

- **Citation:** S.D. Codified Laws § 51A-15-10
- **Heading:** Cancellation of voluntary liquidation
- **Jurisdiction:** South Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SD Code / Title 51A / Chapter 15 / Section 51A-15-10

## Text

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.

## Nearby sections

- [S.D. Codified Laws § 51A-15-1 Voluntary liquidation--Requirements for approval](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-1.md)
- [S.D. Codified Laws § 51A-15-2 Ceasing to do business and winding up affairs on voluntary liquidation](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-2.md)
- [S.D. Codified Laws § 51A-15-3 Notice of voluntary liquidation--Manner of publication--Contents](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-3.md)
- [S.D. Codified Laws § 51A-15-4 Resignation of fiduciary positions and settlement of accounts on voluntary liquidation](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-4.md)
- [S.D. Codified Laws § 51A-15-5 Disposition of safe deposit on voluntary liquidation](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-5.md)
- [S.D. Codified Laws § 51A-15-6 Depositor's or creditor's rights not impaired by voluntary liquidation--Return of safe deposit rental](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-6.md)
- [S.D. Codified Laws § 51A-15-7 Distribution of assets after discharge of obligations on voluntary liquidation--Disposition of unclaimed distributions](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-7.md)
- [S.D. Codified Laws § 51A-15-8 Authority of director to take possession of bank in voluntary liquidation](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-8.md)
- [S.D. Codified Laws § 51A-15-9 Reports of progress in voluntary liquidation--Order and certificate of dissolution](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-9.md)
- [S.D. Codified Laws § 51A-15-10 Cancellation of voluntary liquidation](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-10.md)
- [S.D. Codified Laws § 51A-15-11 Director's authority to suspend activities and take possession of bank--Grounds](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-11.md)
- [S.D. Codified Laws § 51A-15-12 "Insolvent" defined](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-12.md)
- [S.D. Codified Laws § 51A-15-13 Receipt of deposits by insolvent bank unlawful--Felony](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-13.md)
- [S.D. Codified Laws § 51A-15-14 Notice of suspension and possession](https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-10. Check the current official text before relying on it. Not legal advice.