4-6A-4. Valuation of collateral--Substitution of securities.
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: SL 1923, ch 281, §1; SL 1925, ch 281, §1; SL 1927, ch 196, §1; SL 1933 (SS), ch 16, §1; SDC 1939, §55.2402; SL 1939, ch 208, §2; SL 1941, ch 302; SDCL, §4-6-11; SL 1974, ch 39, §7; SL 1986, ch 44, §3.
Structure South Dakota Codified Laws
Title 4 - Public Fiscal Administration
Chapter 06A - Insurance Of Public Deposits
Section 4-6A-2 - Public deposit protection commission established--Function.
Section 4-6A-4 - Valuation of collateral--Substitution of securities.
Section 4-6A-5 - Income from collateral.
Section 4-6A-7 - Reports of public deposits and segregated collateral--False statement as perjury.
Section 4-6A-8 - Treasurer not liable for loss from authorized deposits.
Section 4-6A-9 - Public deposits protected by chapter.
Section 4-6A-10 - Payment to public officers after loss determined--Procedures.
Section 4-6A-12 - Depositors' statements of deposits to commission.
Section 4-6A-13 - Losses in depositories--Assessment against public depositories.
Section 4-6A-15 - Reimbursement of public depositors from proceeds of assessments.
Section 4-6A-16 - Actions for protection or settlement of claims.
Section 4-6A-17 - Fixing date of loss.