If, in the opinion of the director, an emergency exists which will result in serious losses to the depositors and creditors, he may suspend all activities and take possession of a bank without the consent of a majority of the members of the commission.
S.D. Codified Laws § 51A-15-21
Director's authority to take action in emergency without majority consent of commission
Source: SL 1969, ch 11, § 13.7 (1); SL 1982, ch 336, § 3; SL 1988, ch 377, § 168; SDCL, § 51-27-14.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.