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Code · South Dakota · Title 51 · Chapter 51-3

51A-3-28. Credit of dividends, interest, or profits on indebtedness--Foreclosure of lien.

67 words·~1 min read·/sd/title-51/chapter-51-3/51a-3-28

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While any indebtedness under § 51A-3-26 exists, all dividends, interest, or profits on such stock, if any, shall be credited by the bank on such indebtedness in the event the bank has exercised its rights to acquire or purchase the stock. The lien hereby created in favor of the bank may be foreclosed by such bank in the manner provided by law for the foreclosure of liens.
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