South Dakota Codified Laws
Chapter 05 - Custody And Investment Of State Funds
Section 4-5-27 - Prudent-person standard required in investments.

South Dakota Codified Laws

Title 4 - Public Fiscal Administration

Chapter 05 - Custody And Investment Of State Funds

Section 4-5-1 - State treasurer not to profit from use of funds--Felony--Civil liability.

Section 4-5-2 - Incidental funds established for state institutions--Initial warrant.

Section 4-5-3 - Purposes for which institution incidental funds may be used.

Section 4-5-4 - Accounting for disbursements and reimbursement of institution incidental funds.

Section 4-5-4.1 - Limitation of warrants on institutions' funds--Diversion of other funds prohibited--Proration of income.

Section 4-5-5 - Investment of political subdivision funds--Funds subject to provisions.

Section 4-5-6 - Investment in securities of or guaranteed by United States, repurchase agreements, or shares of registered investment companies.

Section 4-5-6.1 - Investment of public funds not needed for current operating expenses--Conditions.

Section 4-5-6.2 - Investment in direct obligations of county, municipality, or school district or in bonds issued by state authority.

Section 4-5-8 - Investment policies for local funds determined by governing board.

Section 4-5-9 - Custody or deposit of investments--Exception--Credit of interest earned.

Section 4-5-10 - Application for redemption of securities.

Section 4-5-11 - Supplemental authority for investment of public funds.

Section 4-5-12 - State Investment Council continued.

Section 4-5-12.1 - Regulations and reports provided to state treasurer.

Section 4-5-13 - Appointment and terms of investment council members.

Section 4-5-14 - Council members--Qualifications--Restrictions.

Section 4-5-14.1 - Exceptions to §4-5-14.

Section 4-5-16 - Removal of council member from office--Filling of vacancies.

Section 4-5-17 - Election of chairman.

Section 4-5-18 - Division of investment continued--Immediate supervision.

Section 4-5-19 - Appointment of state investment officer--Removal--Qualifications.

Section 4-5-20 - Investment officer to devote full time--Salary.

Section 4-5-21 - State employees' blanket bond coverage--Premium.

Section 4-5-22 - Annual budget for division--Appointment of employees.

Section 4-5-25 - Monthly reports to investment officer of state transactions.

Section 4-5-26 - Classes of investments approved.

Section 4-5-27 - Prudent-person standard required in investments.

Section 4-5-28 - Policy regulations and restrictions formulated by council.

Section 4-5-29 - Investment officer authorized to make transactions--Duty to protect state interests.

Section 4-5-29.1 - Health care trust fund--Investment officer to calculate amount eligible for distribution--Transfer to state general fund.

Section 4-5-29.2 - Education enhancement trust fund--Calculation of amount eligible for distribution--Transfer to general fund--Postsecondary scholarship grant programs.

Section 4-5-29.3 - Indemnity provision--Authorization.

Section 4-5-30 - Pooling of cash accounts--Certification by Appropriations Committee--Prorating of income--Transfer of money to investment council expense account.

Section 4-5-31 - Physical custody of securities purchased--Deposit with fiscal agent.

Section 4-5-32 - Monthly report to investment council--Contents--Public inspection.

Section 4-5-33 - Meetings of investment council--Access to records--Inspection and review.

Section 4-5-34 - Proceedings to collect principal or interest on investments--Refunding of securities held.

Section 4-5-35 - Post-audit of investment transactions--Annual report of auditor-general.

Section 4-5-36 - Reports to Legislature by investment council.

Section 4-5-37 - Conflicts with other laws.

Section 4-5-38 - Severability of provisions.

Section 4-5-39 - Short title.

Section 4-5-40 - Agreement to purchase general obligation funding bonds--Certification and approval required--Bonds to bear interest, mature, etc.

Section 4-5-41 - School district eligibility--Determination and certification.

Section 4-5-42 - Prudent investment defined--Liability.

Section 4-5-43 - Obligation to purchase--Enforceability.

Section 4-5-44 - Cost of participation.

Section 4-5-47 - Investment of trust fund containing proceeds from sale of state cement enterprises.

Section 4-5-48 - Definition of terms related to investments in companies liable under Iran Sanctions Act.

Section 4-5-49 - Identification of holdings in scrutinized companies.

Section 4-5-50 - List of scrutinized companies.

Section 4-5-51 - Updating scrutinized companies list.

Section 4-5-52 - Procedures with respect to companies on scrutinized companies list.

Section 4-5-53 - Divestiture of securities in companies with scrutinized business operations.

Section 4-5-54 - Acquisition of securities in companies with scrutinized business operations prohibited.

Section 4-5-55 - Exemption from divestiture requirements.

Section 4-5-56 - Inapplicability to certain investments.

Section 4-5-57 - Indirect holdings in actively managed investment funds.

Section 4-5-58 - Report to Legislative Research Council Executive Board.

Section 4-5-59 - Circumstances under which §§4-5-48 to 4-5-60, inclusive, become inoperative.

Section 4-5-60 - Construction with other state law.