South Dakota Codified Laws
Chapter 05 - Insurance And Security For Payments
Section 62-5-13 - Deposit of certificate of deposit or government securities.

62-5-13. Deposit of certificate of deposit or government securities.
Certificates of deposit or approved government securities shall be deposited on behalf of the department by the self-insured employer with the state treasurer or a financial institution approved by the department. Certificates of deposit or approved government securities shall be accepted by the state treasurer for deposit and shall be withdrawn only upon written order of the secretary of the Department of Labor and Regulation. Interest or gains earned on any certificate security, or deposit shall be paid to the self-insurer at least annually.

Source: SL 1989, ch 453, §5; SL 2011, ch 1 (Ex. Ord. 11-1), §33, eff. Apr. 12, 2011.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 62 - Workers' Compensation

Chapter 05 - Insurance And Security For Payments

Section 62-5-1 - Methods of securing payment of compensation.

Section 62-5-2 - Obtaining workers' compensation insurance.

Section 62-5-3 - Reciprocal or interinsurance contracts providing indemnity for loss under workers' compensation law.

Section 62-5-5 - Self-insurance by employer--Annual proof of solvency and financial ability--Application fee--Deposit of fees--Certificate of exemption.

Section 62-5-6 - Exemption of political subdivisions from security provisions.

Section 62-5-7 - Failure to secure payment as election not to operate under title.

Section 62-5-8 - Commission for placing insurance limited.

Section 62-5-9 - Issuance of policy to employer--Certification to department.

Section 62-5-10 - Surety for performance required for self-insurers--Irrevocable trust.

Section 62-5-11 - Requirements for acceptance of irrevocable letter of credit--Definitions.

Section 62-5-12 - Deposit of surety bonds, letters of credit, etc.

Section 62-5-13 - Deposit of certificate of deposit or government securities.

Section 62-5-14 - Deposit and withdrawal of cash.

Section 62-5-15 - Perfected security interest in deposit--Release of security interest.

Section 62-5-16 - Claims administration contracts.

Section 62-5-18 - Reduction of premium where employer selects a policy with a deductible.

Section 62-5-19 - Deductible does not affect reporting requirements.

Section 62-5-20 - Insurer to pay entire loss--Employer to reimburse deductible amount.

Section 62-5-21 - Provision of medical services and health care.