Any bank failing to make and transmit to the director any report as required by this title, is subject to a civil penalty of fifty dollars for each day during which such failure continues; and if any bank fails or refuses to pay such penalty, the director shall institute proceedings for the recovery thereof.

Source: SDC 1939, § 6.0435; SDCL, § 51-12-6; SL 1969, ch 11 , § 11.4; SL 1970, ch 265 , § 58; SL 1980, ch 24 , § 88; SDCL, § 51-25-4; SL 1995, ch 269 , § 2.