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.
South Dakota Legal Code