51A-3-4. Minimum capital.The total capital of each newly organized bank shall be in an amount as the director determines adequate provided that the total capital required be at least six percent of the total projected assets of the bank during its first three years of operation. Source: SL 1909, ch 222, art 2, §1; SL 1911, ch 255, §3; SL 1915, ch 102, art 2, §2; SL 1917, ch 145, §1; RC 1919, §§8949, 9034; SL 1925, ch 95; SL 1927, ch 60; SDC 1939, §6.0303; SL 1943, ch 15; SL 1959, ch 15; SDCL §§51-4-1, 51-4-2; SL 1969, ch 11, §3.4; SL 1981, ch 346, §20; SL 1982, ch 334, §3; SL 1988, ch 377, §56; SDCL §51-17-4; SL 2015, ch 239, §1.
South Dakota Legal Code