8-10-5. Selection of township depository--Exoneration of treasurer for losses in deposited funds.
A bona fide deposit of township funds in the name of the township in any bank or depository selected by a majority of the township voters, present and voting at any annual township meeting, shall relieve the township treasurer from liability and loss of such deposited funds through the insolvency of such depository or depositories while said funds were on deposit therein. The board of supervisors of any township shall select depositories for township funds upon the failure or refusal of the voters to select depositories at such annual township meeting, and if so selected by the board of supervisors the township treasurer shall be likewise relieved from liability in like manner as if such depository had been selected by the voters. The depository selected in either manner shall be a bank or banks or a federally chartered credit union within the State of South Dakota. If no depository is otherwise designated it shall be designated by the treasurer, with the same effect as if otherwise designated.
Source: SL 1883, ch 112, subch 1, §38; CL 1887, §743; RPolC 1903, §1035; SL 1913, ch 283, §1; RC 1919, §6098; SL 1925, ch 292; SL 1931, ch 262; SDC 1939, §58.0701; SL 1949, ch 431, §1; SL 1987, ch 71, §4.
Structure South Dakota Codified Laws
Chapter 10 - Township Fiscal Affairs
Section 8-10-1 - Property tax levy.
Section 8-10-2 - Notice to county auditor of township tax levy--Entry on tax list.
Section 8-10-3 - Township funds remitted by county treasurer.
Section 8-10-6 - Purposes for which township funds expended.
Section 8-10-8 - Township expenditures limited by annual tax levy.
Section 8-10-9 - Proration of appropriations for more than one year.
Section 8-10-12 - Examination and allowance of verified claims by township board.
Section 8-10-13 - Verification not required for salaries and jurors' and witnesses' claims.
Section 8-10-14 - Allowance of claim without verification as misdemeanor.
Section 8-10-15 - Auditing of accounts payable--Clerk of the township replacing absent supervisor.
Section 8-10-16 - Time of meetings for allowance of accounts--Statement of amount allowed.
Section 8-10-17 - Warrants for accounts allowed.
Section 8-10-18 - Endorsement of warrant for payment by depository.
Section 8-10-19 - Register of warrants not paid on presentation--Data entered.
Section 8-10-21 - Call of registered warrants for payment--Termination of interest.
Section 8-10-22 - Tax levy for annual payment of interest on warrants.
Section 8-10-23 - Call of warrants for annual payment of interest.
Section 8-10-24 - Loss of priority by failure to present warrant for annual interest.
Section 8-10-27 - Accounts maintained by treasurer--Exhibition to township board.
Section 8-10-28 - Examination by board of accounts of treasurer and officers handling money.
Section 8-10-29 - Report of fiscal affairs by board--Reading and publication of report.
Section 8-10-30 - Treasurer's annual financial statement--Contents--Filing.
Section 8-10-31 - Forfeiture by treasurer for neglect of duty.