If the director considers it necessary, the director may examine the books and records of a corporation that holds twenty-five percent or more of the stock of a bank. If any parent corporation of a state chartered bank refuses to give any information required in the course of an examination, that parent corporation is subject to a civil fine of one thousand dollars for each day that the refusal continues. Continued refusal may result in the taking and possession of such bank as provided in § 51A-15-11.

Source: SL 1969, ch 11 , § 2.28; SL 1970, ch 265 , § 15; SL 1980, ch 24 , § 84; SL 1981, ch 346 , § 18; SL 1983, ch 357 ; SL 1988, ch 377 , § 51; SDCL § 51-16-38; SL 2008, ch 252 , § 11.