S.D. Codified Laws § 61-4-15

Current through the 2024 Legislative Session

Section 61-4-15 - Investment of trust fund moneys transferred to secretary

Moneys transferred to the secretary of labor and regulation pursuant to § 61-4-14 shall be invested in the following readily marketable classes of securities: bonds or other interest-bearing obligations of the United States of America or of the state of South Dakota. Such investment shall at all times be so made that all the assets of the fund shall always be readily convertible into cash when needed for the payment of benefits.

SDCL 61-4-15

SL 1936 (SS), ch 3, § 9 (d); SDC 1939, § 17.0821; SL 1965, ch 97, § 5; SL 2011, ch 1 (Ex. Ord. 11-1), § 33, eff. Apr. 12, 2011.