Active depositories not limited by maximum amount--Authority to exceed statutory maximum

The limit of deposit which may be carried or deposited in any bank by the county treasurer, as provided in § 7-20-10 , does not apply to any bank designated as active depositories. However, no county treasurer may deposit in a bank more than the limit provided for by § 7-20-10 unless the county treasurer receives express authority from the board of county commissioners evidenced by a resolution of such board authorizing the deposit of a greater amount. Source: SL 1927, ch 80 , § 1; SDC 1939, § 12.0819; SL 2016, ch 44 , § 56. 7-20-15, 7-20-16. Repealed by SL 1975, ch 76 , § 12.