Frix
Try Donna

Ceasing to do business and winding up affairs on voluntary liquidation

South DakotaStatutes

Ask Donna

How this section applies to your facts.

SD Code › Title 51A › Chapter 15 › Section 51A-15-2

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.

Text

Upon approval by the commission, pursuant to § 51A-15-1 , a bank shall forthwith cease to do business, shall have only the powers necessary to effect an orderly liquidation and shall proceed to pay its depositors and creditors and to wind up its affairs.

Source: SL 1969, ch 11, § 13.2; SDCL, § 51-27-2.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

A word about cookies

We need a few to keep you signed in and the library working. The rest help us see which pages people use and where they get stuck. They stay off unless you say yes.