Within six months of the commencement of involuntary liquidation, the director or receiver may by his election terminate any executory contract for services or advertising to which a bank is a party or any obligation of a bank as a lessee. A lessor who receives sixty days' notice of the director's or receiver's election to terminate such a lease shall have no claim for rent other than rent accrued to the date of termination nor for damages for such termination.

Source: SL 1969, ch 11 , § 13.14; SL 1970, ch 265 , § 69; SL 1988, ch 377 , § 174; SDCL, § 51-27-23.