South Dakota Codified Laws 51A-15-8. Authority of director to take possession of bank in voluntary liquidation
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Where a bank has commenced voluntary liquidation and the director finds that the assets will be insufficient for the full discharge of all obligations or that completion of the liquidation has been unduly delayed, he may take possession and complete the liquidation in the manner provided in this chapter for involuntary liquidations.
Terms Used In South Dakota Codified Laws 51A-15-8
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Source: SL 1969, ch 11, § 13.3; SDCL, § 51-27-8.