Title 4, PUBLIC FISCAL ADMINISTRATION

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…

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 …

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.

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.

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…

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…

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…

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…

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…

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…

In addition to the investments permitted by § 4-5-6 , any public funds which are not needed for current operating expenses may be invested in: (1) Direct obligations of any county, municipality, or school district in the state; and (2) Bonds issued by the South Dakota Housing Dev…

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…

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…

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…

The state treasurer shall prepare specifications and select successful bidders for a period not to exceed three years to act as active depositories for the collection of drafts, checks, certificates of deposit, or coupons that may be received by the state treasurer on account of …

Any state or national bank located in South Dakota, may be designated as the official depository of public moneys, notwithstanding the fact that a public officer, official, or employee may have a direct or an indirect interest in said bank either as an officer, director, stockhol…

The state treasurer shall account to the state for all money and funds directly or indirectly received by him by virtue of his office, or as interest or compensation for the use, deposit, or forbearance of any state money in his hands or under his control. The total interest paid…

Every state depository at the end of each month and oftener when required by the state treasurer, shall file with the state treasurer a sworn statement of the amount of state money deposited with it, and of all payments of state money during the month, together with a computation…

Any state treasurer who shall intentionally fail or refuse at any time to do or perform any act required of him by this chapter shall be guilty of a Class 2 misdemeanor. Source: SL 1909, ch 229 , § 3; SL 1911, ch 234 , § 3; RC 1919, § 6874; SDC 1939, § 55.9916; SL 1980, ch 24 , §…

For the purpose of managing deposits of state moneys, the state treasurer may, on a daily basis only, borrow moneys from any depository to cover advances made by a depository of the state on uncollected deposits. The state treasurer may pay interest on such borrowed moneys at a r…

Terms as used in this chapter mean: (1) "Commission," the South Dakota Public Deposit Protection Commission created under § 4-6A-2 ; (2) "Deposit insurance," insurance provided by the Federal Deposit Insurance Corporation or the National Credit Union Administration; (3) "Eligible…

When the Public Deposit Protection Commission determines that a loss has occurred, the commission shall, as soon as possible, make payment to the proper public officers of all funds subject to such loss, pursuant to the procedures set forth in §§ 4-6A-11 to 4-6A-15 , inclusive. S…

For the purposes of determining the sums to be paid pursuant to § 4-6A-10 , the Public Deposit Protection Commission shall, within twenty days after issuance of a restraining order or the taking of possession of any qualified public depository, ascertain the amount of public fund…

Within ten days after receipt of certification pursuant to § 4-6A-11 , each public depositor shall furnish to the Public Deposit Protection Commission verified statements of its deposits in the depository as disclosed by its records. Source: SL 1974, ch 39 , § 9 (2).

If a loss occurs in a qualified public depository, upon receipt of statements furnished pursuant to § 4-6A-12 , the Public Deposit Protection Commission shall ascertain and fix the amount of such public deposit accounts net after deduction of deposit insurance and assess the same…

Assessments made by the Public Deposit Protection Commission pursuant to § 4-6A-13 shall be payable on the second business day following demand, and in case of the failure of any qualified public depository so to pay, the commission shall forthwith take possession of the securiti…

Upon receipt of assessment payments under § 4-6A-14 , the Public Deposit Protection Commission shall reimburse the public depositors of the qualified public depository in which the loss occurred to the extent of the depository's net deposit liability to them. Source: SL 1974, ch …

The Public Deposit Protection Commission shall have the power to take such action as the commission deems best for the protection, collection, compromise, or settlement of any claim arising in case of loss. Source: SL 1974, ch 39 , § 5 (3).

The Public Deposit Protection Commission may fix the official date on which any loss is considered to have occurred for purposes of this chapter taking into consideration the orders, rules, and regulations of supervisory authority as they affect the failure or inability of a qual…

Upon payment to any public depositor, the public deposit protection commission is subrogated to all of such depositor's right, title and interest against the qualified public depository in which the loss occurred. If the commission incurs expense in enforcing any such claim, the …

The South Dakota Public Deposit Protection Commission shall be the state treasurer and the director of the Division of Banking, and shall supervise insuring of all public funds. Source: SL 1974, ch 39 , § 4; SL 1991, ch 391 , § 15.

The Public Deposit Protection Commission may make and enforce rules necessary and proper to the full and complete performance of the commission's functions under this chapter, including the authority to provide by rule for a sum less than one hundred percent if the depositor of p…

This chapter may be cited as the Public Deposit Insurance Act. Source: SL 1974, ch 39 , § 1.

Every qualified public depository shall at all times maintain, segregated from its other assets, eligible collateral having a value at least equal to its maximum liability under this chapter. Such collateral shall be segregated by deposit in such manner as the commission approves…

Securities eligible as collateral shall be valued at face value or market value, whichever is less. A qualified public depository may make substitutions of eligible collateral at any time and shall notify the public deposit protection commission of such change immediately. Source…

The income from the securities which have been segregated as collateral shall belong to the qualified public depository without restriction. Source: SL 1974, ch 39 , § 8; SL 1982, ch 45 , § 1B; SL 1986, ch 44 , § 4.

The public deposit protection commission may require any qualified public depository to furnish such information dealing only with public deposits as the commission shall request. Any public depository which refuses or neglects to give any information so requested may no longer b…

On each call report date, or more often as determined by the public deposit protection commission, each qualified public depository shall render to the commission a written report, certified under oath, indicating the total amount of public deposits held by it and the amount and …

When deposits are made in accordance with this chapter, a treasurer shall not be liable for any loss thereof resulting from the failure or default of any depository without fault or neglect on his part or on the part of his assistants or clerks. Source: SL 1909, ch 229 , § 2; SL …

All public deposits, including accrued interest thereon, in qualified public depositories shall be protected against loss, to the extent provided in this chapter. Source: SL 1974, ch 39 , § 3; SL 1982, ch 45 , § 1E; SL 1986, ch 44 , § 7; SL 1986, ch 45 , § 6; SL 1987, ch 45 , § 6…

Terms used in this chapter, unless the context otherwise requires, mean: (1) "Appropriation," an authorization by the Legislature to a budget unit to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and …

For the purposes of this chapter: (1) An "advisory body" is one which serves as an official consultant or advisor to a state agency without making formal policy decisions for the agency or its programs; (2) A "legislative body" is one composed primarily of legislators pursuant to…

The budget report shall contain and include the following information: (1) Summary statements of the financial condition of the state, accompanied by such detailed schedules of assets and liabilities as the Governor deems desirable, which shall include, but not be limited to, the…

The budget report of the Governor shall contain a separate schedule disclosing the current salaries of elected officials, gubernatorial cabinet members, higher education commissioners and institution heads, executive branch institution heads, public utilities executive director, …

All statutory provisions specifically establishing salaries or providing administrative procedures to establish salaries for appointed officials of all departments and agencies of the executive branch of state government are hereby repealed. Source: SL 1969, ch 218 , § 2.

The budget report of the Governor for each odd - numbered fiscal year shall contain a separate schedule disclosing the current salaries or per diem compensation and allowable expense reimbursement for appointed members of all boards, commissions, councils, committees, and all oth…