S.D. Admin. R. 6:02:02:05
If the commission determines that a public depository has insufficient collateral pledged, issued, or guaranteed in support of its public deposits, the commission must notify the public depository of the insufficiency. The public depository has 10 days to pledge additional eligible collateral to meet the requirement. If after this time the public depository has not complied with its pledging requirements, the commission shall withdraw sufficient public funds from the public depository to assure compliance with the public depository's pledging requirements in the segregation and issuance of collateral for those public deposits which exceed deposit insurance.
S.D. Admin. R. 6:02:02:05
General Authority: SDCL 4-6A-20.
Law Implemented: SDCL 4-6A-3, 4-6A-4, 4-6A-20.
Bank investments -- Restrictions set by rule -- Limitations, SDCL 51A-4-25. Exceptions to investment limitation, SDCL 51A-4-26. Preferential deposits, SDCL 51A-10-9.