Whenever in the course of reorganization supervening conditions render a plan of reorganization unfair or its execution impractical, the director may modify the plan or liquidate the bank. Any such action shall be taken by order upon reasonable notice.
S.D. Codified Laws § 51A-15-29
Modification of reorganization plan or liquidation of bank--Grounds and notice requirements
Source: SL 1969, ch 11, § 13.12; SL 1970, ch 265, § 68; SDCL, § 51-27-21.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.