S.D. Codified Laws § 51A-6A-28

Current through the 2024 Legislative Session

Section 51A-6A-28 - Dividends from undivided profits or surplus

The governing board of any trust company may declare dividends from undivided profits or surplus, if the trust company is in compliance with the capital requirements of §§ 51A-6A-19 and 51A-6A-19.1 following payment of the dividend and if the director approves any dividend to be paid from surplus.

SDCL 51A-6A-28

SL 1995, ch 268, § 26; SL 2019, ch 205, §5.

Amended by S.L. 2019, ch. 205,s. 5, eff. 7/1/2019.