Title 4 — PUBLIC FISCAL ADMINISTRATION
16 chapters · 326 sections in this title.
SDCL § 4-5-52 Procedures with respect to companies on scrutinized companies list
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The State Investment Council shall use the following procedures with respect to companies on the scrutinized companies list: (1) For each company newly identified with scrutinized business operations, the State Investment Council shall, within ninety days following its assembly o…
SDCL § 4-5-53 Divestiture of securities in companies with scrutinized business operations
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If, after ninety days following the State Investment Council's first engagement with a company pursuant to § 4-5-52 , the company continues to have scrutinized business operations, and only while the company continues to have scrutinized business operations, the State Investment …
SDCL § 4-5-54 Acquisition of securities in companies with scrutinized business operations prohibited
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The State Investment Council may not acquire securities of companies on the scrutinized companies list that have scrutinized business operations, except as provided in §§ 4-5-48 to 4-5-60 , inclusive. Source: SL 2010, ch 27 , § 7.
SDCL § 4-5-55 Exemption from divestiture requirements
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If the federal government excludes a company from its present or any future federal sanctions relating to Iran, that company is exempt from the divestment requirements and the investment prohibitions in §§ 4-5-48 to 4-5-60 , inclusive. Source: SL 2010, ch 27 , § 8.
SDCL § 4-5-56 Inapplicability to certain investments
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The provisions of §§ 4-5-48 to 4-5-60 , inclusive, do not apply to any of the following: (1) Investments in a company that is primarily engaged in supplying goods or services intended to relieve human suffering in Iran; (2) Investments in a company that is primarily engaged in pr…
SDCL § 4-5-57 Indirect holdings in actively managed investment funds
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The provisions of §§ 4-5-48 to 4-5-60 , inclusive, do not apply to indirect holdings in actively managed investment funds. The State Investment Council shall submit letters to the managers of investment funds containing companies with scrutinized active business operations reques…
SDCL § 4-5-58 Report to Legislative Research Council Executive Board
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By January fifteenth of each calendar year, the State Investment Council shall submit a report to the Executive Board of the Legislative Research Council. The report shall include: (1) A copy of the most recent list of scrutinized companies; (2) A summary of correspondence with c…
SDCL § 4-5-59 Circumstances under which §§ 4-5-48 to 4-5-60 , inclusive, become inoperative
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The provisions of §§ 4-5-48 to 4-5-60 , inclusive, cease to be operative if either of the following occurs: (1) Iran is removed from the United States Department of State's list of countries that have been determined to repeatedly provide support for acts of international terrori…
SDCL § 4-5-6 Investment in securities of or guaranteed by United States, repurchase agreements, or shares of registered investment companies
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Any public funds which will not be needed for current operating expenses may be invested in: (a) securities of the United States and securities guaranteed by the United States government either directly or indirectly including, without limitation, United States treasury bills, no…
SDCL § 4-5-6.1 Investment of public funds not needed for current operating expenses--Conditions
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In lieu of or in addition to other statutory authorization for the investment of public funds, any public funds that are not needed for current operating expenses may be invested in accordance with the following conditions: (1) The public funds shall initially be placed by the pu…
SDCL § 4-5-60 Construction with other state law
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The State Investment Council is exempt from any statutory or common law obligations that conflict with actions taken in compliance with §§ 4-5-48 to 4-5-59 , inclusive, including all good faith determinations regarding companies as required by §§ 4-5-48 to 4-5-59 , inclusive, inc…
SDCL § 4-5-7 SDCL 4-5-7
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Superseded.
SDCL § 4-5-8 Investment policies for local funds determined by governing board
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Investments of public funds as defined in § 4-5-5 shall be made only after the adoption of a proper resolution by the governing board of such county, municipality, township, or school district. Such resolution shall state the investment policies to be followed by the treasurer th…
SDCL § 4-5-9 Custody or deposit of investments--Exception--Credit of interest earned
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Except for investments authorized by subdivision 4-5-6(c), all investments made pursuant to §§ 4-5-5 , 4-5-6 , 4-5-8 , 4-5-23 , and 4-5-28 shall be in the physical custody of the political subdivision or may be deposited in a safekeeping account with any bank or trust company des…