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.