SD Form 1987 Interagency Bank Merger Act Application - South Dakota

What Is SD Form 1987?

This is a legal form that was released by the South Dakota Department of Labor & Regulation - a government authority operating within South Dakota. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is SD Form 1987?A: SD Form 1987 is an application for a bank merger under the Interagency Bank Merger Act.

Q: What is the Interagency Bank Merger Act?A: The Interagency Bank Merger Act is a federal law that governs the process of merging banks.

Q: Who can use SD Form 1987?A: Banks in South Dakota can use SD Form 1987 when applying for a merger.

Q: What is the purpose of SD Form 1987?A: SD Form 1987 is used to provide information about the proposed bank merger and to seek approval from regulatory authorities.

Q: What information is required in SD Form 1987?A: SD Form 1987 requires information such as the names of the merging banks, financial statements, details of the merger plan, and information on the affected communities.

Q: Is there a fee for submitting SD Form 1987?A: Yes, there may be a fee associated with submitting SD Form 1987, as determined by the regulatory authority.

Q: Who reviews SD Form 1987?A: SD Form 1987 is reviewed by regulatory authorities such as the Office of the Comptroller of the Currency or the Federal Reserve.

Q: What happens after submitting SD Form 1987?A: After submitting SD Form 1987, the regulatory authority will review the application, evaluate the proposed merger, and make a decision on approval.

Q: Can the approval of SD Form 1987 be denied?A: Yes, the approval of SD Form 1987 can be denied if the regulatory authority determines that the proposed merger is not in the best interest of the banks or the affected communities.