Title 4 — PUBLIC FISCAL ADMINISTRATION

The making of profit, directly or indirectly, by the state treasurer, out of any money in the state treasury belonging to the state, with the custody of which the state treasurer is charged, by loaning or otherwise using it, or the removal by the state treasurer, or by his consen…

The governing bodies of such counties, municipalities, townships, and school districts shall, either at the time of purchase or at any other time, direct the time and manner of making application for redemption of such securities. Source: SL 1945, ch 359 , § 2; SDC Supp 1960, § 4…

Sections 4-5-5 to 4-5-10 , inclusive, are supplemental to any other laws relating to the investment, deposit, or administration of the public funds therein specified, and shall supersede the provisions thereof only to the extent that such other laws may restrict or prohibit inves…

The State Investment Council is hereby continued. Source: SL 1971, ch 27 , § 1; SL 1974, ch 38 , § 1.

For the purposes of S.D. Const., Art. IV, § 8, the State Investment Council and Division of Investment are allocated to the Office of the State Treasurer for reporting purposes only. For the purposes of this section, reporting purposes shall mean that the State Investment Council…

The State Investment Council shall consist of eight voting members. Five members of the council shall be appointed by the Executive Board of the Legislative Research Council and the executive board may appoint persons holding public office, appointive or elective, provided that n…

4-5-16 Removal of council member from office--Filling of vacancies. 4-5-17 Election of chairman. 4-5-18 Division of investment continued--Immediate supervision. 4-5-18.1 Repealed by SL 1974, ch 38 , § 4. 4-5-19 Appointment of state investment officer--Removal--Qualifications. 4-5…

Exceptions to §

Repealed by SL 1971, ch 23 , § 2.

A member of the State Investment Council appointed by the Executive Board of the Legislative Research Council may be removed from office by the Executive Board of the Legislative Research Council, for cause, upon notice and opportunity to be heard at a public hearing. Any vacancy…

The chairman and presiding officer of the State Investment Council shall be elected by majority vote of the council. Source: SL 1971, ch 27 , § 6.

The division of investment is hereby continued, to conduct the daily operations of the State Investment Council and the division shall be under the immediate supervision and direction of a person who shall be designated the "state investment officer." Source: SL 1971, ch 27 , § 8…

Repealed by SL 1974, ch 38 , § 4.

The state investment officer shall be appointed by the State Investment Council upon a majority vote and shall serve without term, but he may be removed from office upon a majority vote of the State Investment Council. He shall be a person qualified, by training and investment ex…

A permanent incidental fund is hereby established at each of the institutions under the control of the State Board of Regents and of the executive branch. To provide the money for such fund, the state auditor may issue and deliver a warrant not in excess of five thousand dollars …

The state investment officer shall devote his entire time and attention to the duties of his office, shall not be engaged in any other occupation or profession, nor shall he hold any other public office, appointive or elective. The salary of the state investment officer shall be …

Before the state investment officer, or other responsible employee of the Division of Investment shall enter upon his duties, he shall be included under the state employees' blanket bond, for an amount and for coverage as deemed best to protect the state's interest. The premium t…

The state investment officer shall annually prepare a budget which shall be reviewed and approved by the State Investment Council and the Executive Board of the Legislative Research Council, prior to submission to the Bureau of Finance and Management. Subject to the appropriate r…

The state investment officer shall credit the gain or interest due as a result of investments made pursuant to § 4-5-29 on a pro rata basis to the participating funds in the same ratio as the average daily cash balance of each fund bears to the total average cash balance of all f…

Omitted.

It shall be the duty of the state treasurer and the state auditor to report monthly, or more often as determined by the state investment officer, to the state investment officer as to receipts, expenditures, and warrants paid, so that the state investment officer may be informed …

The State Investment Council shall formulate investment policy regulations pertaining to the kind or nature of investment of any of the moneys, and any restrictions upon the methods for investment, which shall govern the state investment officer. Source: SL 1971, ch 27 , § 17.

Subject to any limitations, conditions, and restrictions contained in policy making regulations approved by the State Investment Council or contained in state law or the State Constitution, the state investment officer may make purchases, sales, exchanges, and investments, for or…

Pursuant to S.D. Const., Art. XII, § 5, the state investment officer shall determine the market value of the health care trust fund as of December 31, 2003, and each calendar year thereafter less the investment expenses transferred pursuant to §

Notwithstanding the provisions of § 3-21-13 , the state investment officer may include an indemnity provision in any contract, agreement, or court document related to an investment that involves custody, management, purchase, sale, exchange, or research if the state investment of…

Such permanent incidental fund shall be kept and used by the proper officer of the respective institutions, for the advanced payment of freight, express, periodicals, books, postage, gate money, all United States postal supplies and refund of tuition and student fees, utility bil…

Mar. 13, 2015. 4-5-31 Physical custody of securities purchased--Deposit with fiscal agent. 4-5-32 Monthly report to investment council--Contents--Public inspection. 4-5-33 Meetings of investment council--Access to records--Inspection and review. 4-5-34 Proceedings to collect prin…

All securities purchased shall be in the physical custody of the state treasurer who may, with the approval of the State Investment Council, deposit with a fiscal agent the securities as he shall consider advisable to be held in safekeeping by said agent for collection of princip…

Not later than fifteen days after the close of each month, the state investment officer shall submit to the State Investment Council a report of the operations of the Division of Investments during the month. Each report shall include a detailed summary of investment, reinvestmen…

The State Investment Council shall meet at times as it shall deem necessary to carry out the provisions of §§ 4-5-12 to 4-5-39 , inclusive, but at least quarterly during the year, to consult with the state investment officer with respect to the work of the Division of Investment.…

In the event of default in the payment of principal of, or interest on, any investment made, the investment council is authorized to institute the proper proceedings to collect the matured principal or interest and may accept for exchange purposes refunding bonds or other evidenc…

The state auditor - general shall be responsible for conducting a continuous post - audit of the investment transactions of the state, and shall submit annually a special report on his findings to the State Investment Council and to the appropriate legislative committee. Source: …

On or before February first of each year, and at other times as it may deem in the public interest, the State Investment Council shall report to the Legislature with respect to its review of the work of the Division of Investment. Source: SL 1971, ch 27 , § 26.

To the extent that the provisions of §§ 4-5-12 to 4-5-39 , inclusive, are inconsistent with the provisions of any other law, the provisions of said sections shall be controlling. Source: SL 1971, ch 27 , § 27.

If any part of §§ 4-5-12 to 4-5-39 , inclusive, is invalid, all valid parts that are severable from the invalid part remain in effect. If a part of said sections is invalid in one or more of its applications, the part remains in effect in all valid applications that are severable…

Sections 4-5-12 to 4-5-39 , inclusive, may be cited as the "Investment of State Funds Law." Source: SL 1971, ch 27 , § 29.

In each case, where such a payment is made, the amount thereof shall be returned to said permanent incidental fund immediately upon receipt of the state auditor's warrant drawn on the proper fund or appropriation covering the bill for which said payment was advanced and for that …

No warrants shall be drawn in excess of the funds made available in the institutions' funds by the Board of Regents and at no time shall any money from other funds be diverted to the use of the institutions' funds. The state investment officer shall prorate all income to the inst…

Repealed by SL 1985, ch 33 , § 35.

Notwithstanding the provisions of §§ 4-5-23 , 4-5-29 , and 4-5-37 , upon receipt of the certification of the Health and Educational Facilities Authority as described in § 4-5-41 and receipt of evidence that the Governor has not disapproved of the investment as contemplated by Art…

A school district is an eligible school district for the purposes of §§ 4-5-40 to 4-5-44 , inclusive, if the Health and Educational Facilities Authority determines and certifies to the State Investment Council and the Governor that the school district is: (1) Expected to have suf…

The state investment officer and the State Investment Council is entitled to conclusively rely, without any duty or obligation for further inquiry, diligence, or investigation, upon the certification of the Health and Educational Facilities Authority as described in § 4-5-41 and …

The obligation of the State Investment Council to purchase any general obligation funding bonds pursuant to any agreement or arrangement described in § 4-5-40 is not enforceable to the extent that the principal amount of such general obligation funding bonds would cause an eligib…

The participation of the State Investment Council and the state investment officer in the tax anticipation note program of the Health and Educational Facilities Authority established under § 1-16A-75 is hereby determined to be in the public interest and for the benefit and mainte…

The State Investment Council as provided in § 4-5-12 is responsible for the investment of the trust fund containing the net proceeds from the sale of state cement enterprises. The investment of such funds is not restricted by the provisions of § 4-5-26 , but is governed by the pr…

Terms used in §§ 4-5-48 to 4-5-60 , inclusive, mean: (1) "Active business operations," all business operations that are not inactive business operations; (2) "Company," any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnershi…

Within ninety days following July 1, 2010, the State Investment Council shall make its best efforts to identify all scrutinized companies in which it has direct holdings. These efforts shall include, as appropriate: (1) Reviewing and relying, as appropriate, on publicly available…

"Public funds" in §§ 4-5-6 to 4-5-11 , inclusive, shall include all general, special, and other funds, regardless of source or purpose, that may now or hereafter be owned, held, or administered by any political subdivision of this state, including counties, municipalities, townsh…

At the first meeting of the State Investment Council after it has completed the requirements of § 4-5-49 , the State Investment Council shall assemble a list of scrutinized companies in which it has direct holdings. Source: SL 2010, ch 27 , § 3.

The State Investment Council shall update the scrutinized companies list each quarter based on continuing information. Source: SL 2010, ch 27 , § 4.