4-5-56. Inapplicability to certain investments.
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 promoting health, education, or journalistic, religious, or welfare activities in Iran; and
(3)Investments in a United States company that is authorized by the federal government to have active business operations in Iran.
Source: SL 2010, ch 27, §9.
Structure 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 4-5-5 - Investment of political subdivision funds--Funds subject to provisions.
Section 4-5-6.1 - Investment of public funds not needed for current operating expenses--Conditions.
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 4-5-29.3 - Indemnity provision--Authorization.
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 4-5-35 - 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 4-5-41 - 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 4-5-49 - 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 4-5-55 - 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.