Section 51A-12-14 - Right of offset on loans. - South-dakota Statutes

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51A-12-14. Right of offset on loans. In addition to the general lien created by § 44-11-11 in favor of a bank on all property in possession of the bank belonging to its customers, a bank may offset against all loan balances, whether principal or interest, owed to the bank by a customer, all or any portion of the bank's obligation to the customer in the form of certificates of deposit, time savings certificates and any other form of deposit.

Source: SL 1981, ch 346, § 61; SDCL, § 51-24-15.

State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-12 > Statute-51a-12-14

51A-12-14. Right of offset on loans. In addition to the general lien created by § 44-11-11 in favor of a bank on all property in possession of the bank belonging to its customers, a bank may offset against all loan balances, whether principal or interest, owed to the bank by a customer, all or any portion of the bank's obligation to the customer in the form of certificates of deposit, time savings certificates and any other form of deposit.

Source: SL 1981, ch 346, § 61; SDCL, § 51-24-15.

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State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-12 > Statute-51a-12-14

51A-12-14. Right of offset on loans. In addition to the general lien created by § 44-11-11 in favor of a bank on all property in possession of the bank belonging to its customers, a bank may offset against all loan balances, whether principal or interest, owed to the bank by a customer, all or any portion of the bank's obligation to the customer in the form of certificates of deposit, time savings certificates and any other form of deposit.

Source: SL 1981, ch 346, § 61; SDCL, § 51-24-15.