51A-4-17. Sale of assets of bank.A bank may sell any asset in the ordinary course of business, or, with the approval of the director in any other circumstance, but the sale of all or substantially all of the assets of a bank or a department thereof is considered a voluntary liquidation and governed by chapters 51A-14 and 51A-15. Source: SL 1969, ch 11, §4.11; SL 1970, ch 265, §29; SL 1981, ch 346, §32; SL 1988, ch 377, §88; SDCL, §51-18-12.
South Dakota Legal Code