51A-3-9. Conditions to be considered in ruling on application.
In ruling upon any bank application required in §51A-2-16, the director or the commission, as the case may be, shall consider the following conditions:
(1)The financial history and condition of the applicant;
(2)The adequacy of the applicant's financial structure;
(3)The future earning prospects of the applicant;
(4)The general character and fitness of the management and ownership of the applicant;
(5)The applicant's ability to serve the community as described in the application; and
(6)Such other facts and circumstances as in the opinion of the director or commission may be relevant.
In any hearing before the commission on an application, the director shall submit to the commission for its consideration pursuant to §51A-3-10 the director's findings with respect to the above conditions together with all other pertinent information in the director's possession.
Source: SL 1909, ch 222, art 2, §7; SL 1915, ch 102, art 2, §9; RC 1919, §8955; SDC 1939, §6.0304; SL 1963, ch 23; SDCL §51-3-7; SL 1969, ch 11, §3.14; SL 1972, ch 253; SL 1981, ch 346, §23; SL 1988, ch 377, §65; SDCL §51-17-15; SL 2008, ch 252, §12.
Structure South Dakota Codified Laws
Chapter 03 - Organization, Applications, And Capital Structure Of Banking Corporations
Section 51A-3-1 - Corporation laws applicable to banks.
Section 51A-3-1.1 - Bank organized as limited liability company--Rules.
Section 51A-3-3 - Incorporators of bank.
Section 51A-3-4 - Minimum capital.
Section 51A-3-6 - Transfers to surplus.
Section 51A-3-7 - Applications--Fee.
Section 51A-3-8 - Acceptance of application for charter.
Section 51A-3-9 - Conditions to be considered in ruling on application.
Section 51A-3-10 - Hearing on application.
Section 51A-3-12 - Endorsement and filing of approved articles--Notice of disapproval.
Section 51A-3-13 - Subscription of shares--Minimum collection--Refund on disapproval of application.
Section 51A-3-17.1 - Dividends--Definition.
Section 51A-3-18 - Dividends--Restrictions and requirements for declaration.
Section 51A-3-19 - Approval of director required for unusually large dividends.
Section 51A-3-20 - Recovery of dividends paid when capital impaired.
Section 51A-3-21 - Net profits defined.
Section 51A-3-23 - Extension of charter.
Section 51A-3-24 - Reporting transfers of stock.
Section 51A-3-25 - Change in control of bank.
Section 51A-3-26 - Lien on shares--Enforcement--Marking of certificates.
Section 51A-3-27 - Purchase or purchase money loans on security of own stock prohibited--Exception.
Section 51A-3-28 - Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.
Section 51A-3-30 - Adoption and approval of bylaws.
Section 51A-3-31 - Indemnification of officers, directors, or employees.
Section 51A-3-32 - Board of directors--Number of members--Citizenship requirements--Election.
Section 51A-3-33 - Removal of directors--Vote required.
Section 51A-3-34 - Board of directors--Meetings.
Section 51A-3-35 - Election of officers--Terms--Vacancies.
Section 51A-3-37 - Bonds of officers and employees.