Any officer, employee or director of a bank who is convicted of violating any of the provisions of this title is disqualified from thereafter acting as an officer, employee or director of any bank and is liable in a civil action to such bank or any of its stockholders for all losses sustained by reason of such violations.
S.D. Codified Laws § 51A-1-4
Disqualification of officer, employee or director for violation--Civil liability
Source: SL 1925, ch 92; SL 1927, ch 53; SL 1933, ch 50; SDC 1939, § 6.0441; SDCL, § 51-1-6; SL 1969, ch 11, § 1.3; SL 1988, ch 377, § 2; SDCL, § 51-15-3.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.