South Dakota Codified Laws
Chapter 10 - Bank Deposits
Section 51A-10-11 - Loans prohibited when reserve deficient.

51A-10-11. Loans prohibited when reserve deficient.
Whenever the reserve of any bank shall fall below the legal amount required, such bank shall not increase its loans or discounts otherwise than by discounting or purchasing bills of exchange payable at sight or on demand.

Source: SL 1909, ch 222, art 2, §28; SL 1915, ch 102, art 2, §32; RC 1919, §8979; SDC 1939, §6.0427; SDCL, §51-10-8; SL 1969, ch 11, §8.14; SDCL, §51-22-17.

<< Previous

Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 51A - Banks and Banking

Chapter 10 - Bank Deposits

Section 51A-10-1 - "Deposit" or "deposits" defined.

Section 51A-10-2 - Minors' accounts.

Section 51A-10-3 - Deposits in name of two or more persons.

Section 51A-10-4 - Deposits in trust for another.

Section 51A-10-5 - Tax liability on payments to survivors of deposits in name of two or more persons or in trust for another.

Section 51A-10-6 - Statement of account between bank and depositor--Limitation on depositor's recourse after statement rendered.

Section 51A-10-7 - Duty of depositor to examine statement of account and vouchers.

Section 51A-10-8 - Misdemeanor to certify check where drawer's funds insufficient.

Section 51A-10-9 - Preferential deposits.

Section 51A-10-10 - Substitution or exchange of securities deposited to qualify as depository for funds of governmental subdivisions.

Section 51A-10-11 - Loans prohibited when reserve deficient.