Section 51A-15-10 - Cancellation of voluntary liquidation. - South-dakota Statutes

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51A-15-10. Cancellation of voluntary liquidation. A bank may, at any time prior to the director's cancellation of its charter, revoke its intention to voluntarily liquidate under § 51A-15-1, if it receives approval of its action upon an affirmative vote of at least two-thirds of the voting shares of the bank. Written evidence of its intentions delivered to the director prior to cancellation are considered an effective revocation.

Source: SL 1988, ch 377, § 164; SDCL, § 51-27-9.1.

State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-15 > Statute-51a-15-10

51A-15-10. Cancellation of voluntary liquidation. A bank may, at any time prior to the director's cancellation of its charter, revoke its intention to voluntarily liquidate under § 51A-15-1, if it receives approval of its action upon an affirmative vote of at least two-thirds of the voting shares of the bank. Written evidence of its intentions delivered to the director prior to cancellation are considered an effective revocation.

Source: SL 1988, ch 377, § 164; SDCL, § 51-27-9.1.

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State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-15 > Statute-51a-15-10

51A-15-10. Cancellation of voluntary liquidation. A bank may, at any time prior to the director's cancellation of its charter, revoke its intention to voluntarily liquidate under § 51A-15-1, if it receives approval of its action upon an affirmative vote of at least two-thirds of the voting shares of the bank. Written evidence of its intentions delivered to the director prior to cancellation are considered an effective revocation.

Source: SL 1988, ch 377, § 164; SDCL, § 51-27-9.1.