S.D. Admin. R. 67:10:04:07

Current through Register Vol. 51, page 57, November 12, 2024

Section 67:10:04:07 - Exclusion of funds owned by dependent child

The department excludes the first $1,000 of the cumulative balance of a dependent child's savings account, checking account, bonds, or certificates of deposits if all of the following conditions are met:

(1) The excluded funds are owned solely by the dependent child or jointly with the caretaker or another adult relative;

(2) The child is at least a half-time student;

(3) The child is employed at least part-time or has been employed at least part-time in the preceding 12 months; and

(4) A portion of the account was derived from the child's earnings.

S.D. Admin. R. 67:10:04:07

24 SDR 24, effective 8/31/1997.

General Authority: SDCL 28-7A-3(1)(3).

Law Implemented: SDCL 28-7A-3(1)(3).