4-6-26. Borrowing on daily basis for management of state deposits--Repayment.
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 rate to be negotiated by him and the lending depository and may take such measures as are necessary to implement this section. All such moneys shall be repaid, with interest, before the end of the fiscal year in which they were borrowed. The state is not liable to repay such moneys from revenues of any later fiscal year.
Source: SL 1983, ch 3, ยง1.
Structure South Dakota Codified Laws
Title 4 - Public Fiscal Administration
Chapter 06 - Depositories Of Public Funds
Section 4-6-2 - Depository not disqualified by interest of public officer or employee.
Section 4-6-16 - Active depositories for collection of instruments--Interest paid.
Section 4-6-24 - Failure of treasurer to perform duty as misdemeanor.
Section 4-6-26 - Borrowing on daily basis for management of state deposits--Repayment.