51A-2-2. Department and commission as division within Department of Labor and Regulation--Direction and supervision by department--Independent functions retained by division.
The Division of Banking shall be administered under the direction and supervision of the Department of Labor and Regulation and the secretary thereof. The division shall retain the quasi-judicial, quasi-legislative, advisory, and other nonadministrative functions (as defined in §1-32-1) otherwise vested in it and shall exercise those functions independently of the secretary.
Source: SL 1973, ch 2 (Ex. Ord. 73-1), §43; SL 1973, ch 290, §2; SL 1988, ch 377, §14; SDCL §51-16-1.1; SL 2003, ch 272 (Ex. Ord. 03-1), §118, eff. Apr. 17, 2003; SL 2011, ch 1 (Ex. Ord. 11-1), §162, eff. Apr. 12, 2011.
Structure South Dakota Codified Laws
Chapter 02 - Division Of Banking
Section 51A-2-1 - Establishment of Division of Banking.
Section 51A-2-3 - Director of division--Vacancy--Qualifications.
Section 51A-2-4 - Director of division--Appointment and removal.
Section 51A-2-5 - Deputy director--Appointment--Powers and duties.
Section 51A-2-6 - Staff employees--Compensation--Dismissal--Background investigation.
Section 51A-2-8 - Terms of commission members--Vacancies--Removal for cause.
Section 51A-2-9 - Chairman and secretary of commission--Per diem and expenses of members.
Section 51A-2-10 - Meetings of commission.
Section 51A-2-11 - Quorum--Replacement of nonparticipating member.
Section 51A-2-12 - Clerical, technical, and legal assistance for commission.
Section 51A-2-13 - Rules promulgated by commission.
Section 51A-2-14 - Rules granting additional authority to banks to promote competitive equality.
Section 51A-2-14.1 - State chartered banks granted powers allowed federally chartered banks.
Section 51A-2-14.2 - Restrictions on federally chartered banks apply to state chartered banks.
Section 51A-2-15 - Considerations of commission in making rules and regulations.
Section 51A-2-17 - Forms of advertising.
Section 51A-2-18 - Examination of banks by director--Substitution for examination requirements.
Section 51A-2-19 - Subpoena power--Witness fees and mileage.
Section 51A-2-20 - Examination by director upon application by board--Fees and expenses.
Section 51A-2-21 - Order to prohibit stockholders' action pending judicial determination.
Section 51A-2-22 - Removal of director, officer, or employee of bank--Grounds for order by director.
Section 51A-2-23 - Review of removal order by commission.
Section 51A-2-24 - Accounting practices--Valuation of assets--Required practices to protect loans.
Section 51A-2-25 - Temporary order of director against unsound practice.
Section 51A-2-26 - Permanent order of commission against unsound practice.
Section 51A-2-27 - Injunctive relief.
Section 51A-2-28 - Seal of director.
Section 51A-2-29 - Record of fees--Disposition of money collected.
Section 51A-2-30 - Banking special revenue fund created--Disbursements.
Section 51A-2-35 - Records of division open to public inspection--Exceptions--Court order.