Statutes > South Dakota Statutes > Title 51A - BANKS AND BANKING > Chapter 15 - Suspension And Liquidation Of Banks > Section 51A-15-26 - Borrowing money by director in possession.

Section 51A-15-26 - Borrowing money by director in possession.

51A-15-26. Borrowing money by director in possession. With the approval of the commission, the director may borrow money in the name of the bank in his possession and may pledge its assets as security for the loan.

Source: SL 1933, ch 54, § 1; SDC 1939, § 6.0629; SDCL, § 51-14-25; SL 1969, ch 11, § 13.9; SDCL, § 51-27-18.