S.D. Admin. R. 6:03:01:02

Current through Register Vol. 51, page 67, December 16, 2024

Section 6:03:01:02 - Local accounts

State agencies which have local accounts are exempt from § 6:03:01:01 under the following circumstances:

(1) If an agency makes refunds from a local account, the agency may retain in the account the funds necessary for that purpose; and

(2) If an agency uses a local account only for remitting funds to the state treasurer, the agency may retain the funds until the balance reaches $500. Once that sum is reached, all funds must be remitted except those necessary for account maintenance or those funds authorized by the state auditor and treasurer under SDCL 4-4-3.

S.D. Admin. R. 6:03:01:02

13 SDR 33, effective 9/28/1986.

General Authority: SDCL 4-3-4.2.

Law Implemented: SDCL 4-3-4.2.

Funds maintained in treasury -- Local bank accounts, SDCL 4-4-3.