7-20-1.1. Savings and loan associations as official depositories--Requirements--Maximum amount.
Domestic savings and loan associations whether chartered by this state or by the United States are official depositories for county funds; provided such funds are invested only in the accounts of such associations which are insured by the Federal Savings and Loan Insurance Corporation. The amount so invested in any one association may not exceed the amount which is covered by such insurance unless such association qualifies as a savings and loan depository as provided by chapter 4-6A.
Source: SL 1974, ch 303; SL 1982, ch 45, §2; SL 2017, ch 54, §2.
Structure South Dakota Codified Laws
Chapter 20 - Deposit Of County Funds
Section 7-20-1 - Banks eligible for deposits--Application for deposit.
Section 7-20-1.2 - Domestic federal credit union as official depository--Requirement.
Section 7-20-3 - Deposit permitted despite interest of county official.
Section 7-20-10 - Maximum deposit in one bank.