South Dakota Codified Laws 51A-2-27. Injunctive relief
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If a person or bank that is subject to an order entered by the director or the commission pursuant to § 51A-2-22, 51A-2-25 or 51A-2-26, fails to comply with such order, the director or commission may seek an injunction from the circuit court in the county in which the bank is located, ordering such person or bank to cease and desist from the unsound or unlawful banking practice. An injunction shall be granted upon a showing that certain practices were engaged in that are contrary to sound banking practices, and that these practices contributed to the financial detriment of the bank.
Terms Used In South Dakota Codified Laws 51A-2-27
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1981, ch 346, § 11; SL 1988, ch 377, § 43; SDCL, § 51-16-27.2