S.D. Codified Laws § 51A-3-35
This is the official text of S.D. Codified Laws § 51A-3-35, 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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Election of officers--Terms--Vacancies
Official statutory text
The officers of every bank shall be elected by the board of directors at the board meeting held in January of each year. The president or chief executive officer shall be appointed by the elected board members to the board of directors. The officers shall hold office for one year and until their successors are elected and qualified, subject to removal by the board at any time. Vacancies may be filled by appointment of successors by the board of directors at any regular or special meeting, to hold office until the next regular election and until successors qualify.
Source: SDC 1939, § 6.0317; SL 1963, ch 24; SDCL, § 51-3-18; SL 1969, ch 11, § 3.28; SL 1988, ch 377, § 77; SDCL, § 51-17-34; SL 1996, ch 279, § 2.
Source: SDC 1939, § 6.0317; SL 1963, ch 24; SDCL, § 51-3-18; SL 1969, ch 11, § 3.28; SL 1988, ch 377, § 77; SDCL, § 51-17-34; SL 1996, ch 279, § 2.
Status: in_force · Read it on the official government site
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