51A-15-2. Ceasing to do business and winding up affairs on voluntary liquidation.Upon approval by the commission, pursuant to §51A-15-1, a bank shall forthwith cease to do business, shall have only the powers necessary to effect an orderly liquidation and shall proceed to pay its depositors and creditors and to wind up its affairs. Source: SL 1969, ch 11, §13.2; SDCL, §51-27-2.
South Dakota Legal Code