S.D. Codified Laws § 51A-1-12
This is the official text of S.D. Codified Laws § 51A-1-12, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Payment or indemnification of person for fine, penalty or judgment unlawful--Civil liability--Exceptions--Action to recover payments
Official statutory text
It is unlawful for a bank to pay a fine or penalty imposed by law upon any other person or to reimburse directly or indirectly any person by whom such fine or penalty has been paid. Any bank that makes an unlawful payment is subject to the imposition of a civil fine by the director or commission not to exceed one hundred dollars for each unlawful payment. A bank may reimburse any person in settlement of its own liability or in connection with the acquisition of property against which the judgment is a lien, or as provided in § 51A-3-31 . Any payments made by a bank in violation of this section are recoverable for the bank in an action instituted pursuant to the provisions of chapter 1-26 by the division from the person who benefited from such payment.
Source: SL 1969, ch 11, § 1.10; SL 1980, ch 24, § 78; SL 1988, ch 377, § 8; SDCL, § 51-15-10.
Source: SL 1969, ch 11, § 1.10; SL 1980, ch 24, § 78; SL 1988, ch 377, § 8; SDCL, § 51-15-10.
Status: in_force · Read it on the official government site
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