South Dakota § 51A-3-18 - Dividends--Restrictions and requirements for declaration.
Full text of South Dakota South Dakota Codified Laws § 51A-3-18 — Dividends--Restrictions and requirements for declaration., with citation guidance and answers to common questions.
§ 51A-3-18. Dividends--Restrictions and requirements for declaration.
Dividends to stockholders may be declared from net profits by the board of directors of a bank not more than once in each calendar quarter provided that all provisions of this title relating to the maintenance of capital accounts have been complied with. The minutes of such a meeting shall reflect that a determination has been made that the reserve for loan and lease losses has been adequately funded, the amount carried to surplus, if any, the amount of dividend declared, the amount of net undivided profits, if any, remaining and the amount of total equity capital remaining.
Source: SL 1891, ch 27, § 13; RCivC 1903, § 859; SL 1909, ch 222, art 2, §§ 11, 36; SL 1911, ch 255, §§ 14, 16; SL 1915, ch 102, art 2, §§ 13, 40; RC 1919, §§ 8959, 8988, 9044, 9046; SL 1927, ch 214, § 2; SDC 1939, § 6.0439; SL 1953, ch 14, § 1; SDCL, §§ 51-4-23, 51-4-26; SL 1969, ch 11, § 3.7; SL 1987, ch 358; SDCL, § 51-17-8; SL 1988, ch 377, § 60; SDCL, § 51-17-20.3.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 51A-3-18
What does South Dakota Codified Laws § 51A-3-18 cover?
Section 51A-3-18 ("Dividends--Restrictions and requirements for declaration.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 51A-3-18?
A common citation format is "South Dakota Codified Laws § 51A-3-18" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 51A-3-18 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.