51A-14-2.Purchase of assets and assumption of liabilities.
A bank may purchase the assets and assume the liabilities of another state bank, national bank or savings and loan association organized pursuant to 12 U.S. C. §1464 as amended as of January 1, 1990. The provisions of §§51A-2-16 and 51A-3-7 to 51A-3-12, inclusive, govern such applications.
Source: SL 1981, ch 346, §65; SDCL §51-26-4; SL 1988, ch 377, §159; SL 1990, ch 383, §2; SDCL §51-26-1.1; SL 2012, ch 252, §23.
Structure South Dakota Codified Laws
Chapter 14 - Reorganization Of Banks
Section 51A-14-1 - Merger or consolidation of banks.
Section 51A-14-2 - Purchase of assets and assumption of liabilities.
Section 51A-14-3 - Conversion from state bank to national bank.
Section 51A-14-5 - Liquidation procedures in the event of reorganization.
Section 51A-14-6 - Emergency takeover.
Section 51A-14-7 - Valuation of dissident shareholders' stock.