A bank may amend its articles of incorporation in the manner provided under §§ 47-1A-101 to 47-1A-863.3, inclusive, §§ 47-1A-1001 to 47-1A-1021, inclusive, and §§ 47-1A-1201 to 47-1A-1202.6, inclusive, upon amendment certified by its president, except that prior approval of the director shall be required for a bank to: change its name or location; acquire or abandon trust powers; change the number or par value of its shares of stock; change the amount of capital; or, extend its corporate existence. Such approval must be based upon a finding that the security of existing creditors will not be impaired by the proposed action. All such amendments shall be filed in the same manner as provided for original articles of incorporation.

Terms Used In South Dakota Codified Laws 51A-3-22

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.

Source: SL 1909, ch 222, art 2, § 15; SL 1915, ch 102, art 2, § 17; RC 1919, § 8963; SDC 1939, § 6.0307; SDCL, §§ 51-3-9, 51-4-6; SL 1969, ch 11, § 3.19; SDCL, § 51-17-21; SL 2005, ch 202, § 20.

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