7-20-14. Active depositories not limited by maximum amount--Authority to exceed statutory maximum.
The limit of deposit which may be carried or deposited in any bank by the county treasurer, as provided in §7-20-10, does not apply to any bank designated as active depositories. However, no county treasurer may deposit in a bank more than the limit provided for by §7-20-10 unless the county treasurer receives express authority from the board of county commissioners evidenced by a resolution of such board authorizing the deposit of a greater amount.
Source: SL 1927, ch 80, §1; SDC 1939, §12.0819; SL 2016, ch 44, §56.
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.