# S.D. Codified Laws § 51A-15-3: Notice of voluntary liquidation--Manner of publication--Contents

> South Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SD_T51A_C15_S51A-15-3

## Section

- **Citation:** S.D. Codified Laws § 51A-15-3
- **Heading:** Notice of voluntary liquidation--Manner of publication--Contents
- **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-15-3

## Text

Within thirty days of the approval, a notice of voluntary liquidation shall be:

(1) Mailed to the last known post - office address of each depositor, creditor, person interested in funds held as a fiduciary, lessee of a safe deposit box or bailor of property;

(2) Posted conspicuously on the premises of the bank; and

(3) Published as the director shall require.

The bank shall mail with the notice a statement of the amount shown on its books to be the claim of the depositor or creditor. The notice shall also demand that property held by the bank as bailee or in a safe deposit box be withdrawn by the person entitled thereto within thirty days. The notice shall direct that objections of depositors and creditors, if the amount claimed differs from that in such statement be filed with the bank before a specified date which shall not be less than sixty days from the date of first publication in accordance with the procedure described therein. The notice shall also include such other information as the director or the bank may deem pertinent.

Source: SL 1969, ch 11, § 13.2 (2); SL 1970, ch 265, § 61; SDCL, § 51-27-3.

## 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-15-3. Check the current official text before relying on it. Not legal advice.