Net profits shall be equal to the net income or loss as reported by a bank in its reports of condition and income. In computing its net profits under this section, a bank may not add its provision for loan and lease losses to, nor deduct net charge offs from, its reported net income.
S.D. Codified Laws § 51A-3-21
Net profits defined
Source: SDCL, § 51-15-1(9); SL 1988, ch 377, § 1; SDCL, § 51-17-20.6; SL 1991, ch 390, § 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.