Title 51A — BANKS AND BANKING

Any bank, branch bank, drive - in facility, bank service corporation or other entity by its term subject to this title, is subject to this title, except that the legality of their organization under prior law is not affected by this title. Banks may retain their capital structure…

It is a Class 4 felony for an officer, director, employee, or agent of a bank: (1) With intent to deceive, to make any false or misleading statement or entry or omit any statement or entry that should be in any book, account, report, or statement of the bank; or (2) To obstruct o…

No person may knowingly file or cause to be filed any statement, information, application, report, document or other form of proof with the director or the commission which is in whole or in part materially false nor may any person knowingly make or cause to be made any false ent…

It is unlawful for a bank to pay a fine or penalty imposed by law upon any other person or to reimburse directly or indirectly any person by whom such fine or penalty has been paid. Any bank that makes an unlawful payment is subject to the imposition of a civil fine by the direct…

Any officer, director or employee of a bank, who wrongfully diverts or takes any of the money, funds, credits, data, information or property of the bank, whether owned by it or held in trust, who wrongfully withholds payment or remittance of the proceeds of any collection which m…

Any person who receives, possesses, conceals, stores, barters, sells or disposes of any money, funds, credits, data, information or property, knowing the same to have been wrongfully diverted or taken from the bank, is guilty of a Class 5 felony. Source: SL 1988, ch 377 , § 10; S…

No public officer qualified to take acknowledgments or proofs of written instruments may be disqualified for taking the acknowledgment or proof of any instrument in writing in which a bank is interested by reason of his employment, whether as officer or employee, or by reason of …

If any provision of this title or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications to this title which can be given effect without the invalid provision or application, and to this end the pro…

Any regulated lender as defined in § 54-3-14 has no duty to disclose information about its customers and has no duty to provide an opinion about the creditworthiness of its customers unless such information or opinion is required pursuant to a valid subpoena, court order, statute…

The director, with the approval of the commission, may enter into any agreement or compact with authorized representatives of other jurisdictions to provide for the administration of banking laws under the provisions of a signed agreement or compact. In administering any agreemen…

Neither the state nor any of its agencies or subdivisions may accept a central bank digital currency, whether foreign or domestic, as payment for taxes, fees, tuition, admission, the settlement of any account or debt, or any other purpose. For the purposes of this chapter, the te…

Terms used in this title mean: (1) "Articles of incorporation," articles of incorporation for a bank organized by incorporators as a corporation pursuant to chapter 47-1A and articles of organization for a bank organized by organizers or members as a limited liability company pur…

A person engaging in the purchase or sale of any goods or services or trading in financial products or services and who accepts central bank digital currency must also accept another form of legal tender. Source: SL 2024, ch 195 , § 2.

Notice to any bank of an adverse claim to a deposit or other item standing on its books to the credit of any person, or to the contents of a safe deposit box or property held in safekeeping, shall not be sufficient to cause said bank to recognize such adverse claim unless: (1) In…

Any officer, employee or director of a bank who is convicted of violating any of the provisions of this title is disqualified from thereafter acting as an officer, employee or director of any bank and is liable in a civil action to such bank or any of its stockholders for all los…

Any officer, employee, or director of a bank who fails to obey any lawful order made by the director or commission under provisions of this title is subject to the imposition of a civil fine by the director or commission not exceeding one thousand dollars per violation for each d…

Any proceeding commenced to recover any civil fine under § 51A-1-5 shall be conducted in accordance with the provisions of chapter 1-26 . Source: SL 1988, ch 377 , § 4; SDCL, § 51-15-4.1.

Whenever a violation of this title by a bank or an officer, director, or employee thereof is threatened or pending, the director may make application pursuant to law for an injunction or other appropriate remedy. Source: SL 1969, ch 11 , § 1.5; SL 1988, ch 377 , § 5; SDCL, § 51-1…

Except as expressly permitted in this title, a bank shall not assume liability as an insurer or as a guarantor or endorser of any security instrument or obligation in which or with respect to which it has no property interest. Source: SL 1969, ch 11 , § 1.6; SDCL, § 51-15-6.

It is a Class 1 misdemeanor for an officer, director, employee or agent of a bank to conceal or endeavor to conceal any transaction of the bank from any officer, director or employee of the bank or any official or employee of the division to whom it should properly be disclosed. …