South Dakota § 51A-3-14 - Call by incorporators for full payment of subscriptions--Issuance of certificate of authority by director--Commencement of business within one year.
Full text of South Dakota South Dakota Codified Laws § 51A-3-14 — Call by incorporators for full payment of subscriptions--Issuance of certificate of authority by director--Commencement of business within one year., with citation guidance and answers to common questions.
§ 51A-3-14. Call by incorporators for full payment of subscriptions--Issuance of certificate of authority by director--Commencement of business within one year.
The incorporators may call for the payment of subscriptions in full upon receipt of the notice that the articles of incorporation have been approved. The director shall issue a certificate of authority whenever it shall appear to him that the capital stock of such bank has been fully subscribed and paid in in money and such bank is lawfully entitled to commence business. No bank shall transact any business, except such as is incidental or necessarily preliminary to its organization, until such certificate of authority has been regularly issued by the director. Such certificate of authority shall be void if the bank named therein fails to commence business within one year from the date thereof.
Source: SL 1909, ch 222, art 2, §§ 5, 7; SL 1911, ch 255, §§ 7, 9; SL 1915, ch 102, art 2, §§ 6, 9; RC 1919, §§ 8953, 8955, 9038, 9039; SDC 1939, § 6.0306; SDCL, §§ 51-6-2, 51-6-4, 51-6-5; SL 1969, ch 11, § 3.17; SDCL, § 51-17-19.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 51A-3-14
What does South Dakota Codified Laws § 51A-3-14 cover?
Section 51A-3-14 ("Call by incorporators for full payment of subscriptions--Issuance of certificate of authority by director--Commencement of business within one year.") 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-3-14?
A common citation format is "South Dakota Codified Laws § 51A-3-14" (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-3-14 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.