S.D. Admin. R. 6:02:02:06.02
The commission may request information from any qualified public depository pledging eligible collateral, which enables the commission to determine that the state's security interests in the eligible collateral may be perfected. If the commission determines that a qualified public depository does not have, in accordance with SDCL 4-6A-3, segregated eligible collateral as security for uninsured public deposits in the amount of at least 440 100 percent of the uninsured deposits, the public depository must use eligible collateral that adequately secures the public deposits so that public deposits are granted a paramount, preferred, and perfected first lien on the public depository's assets segregated.
S.D. Admin. R. 6:02:02:06.02
General Authority: SDCL 4-6A-20.
Law Implemented: SDCL 4-6A-3, 4-6A-6, 51A-10-9.