Statutes, codes, and regulations
South Dakota Administrative Rules
Title 67 - Department of Social ServicesArticle 67:12 - Assistance payments
Chapter 67:12:05 - Limitations on personal property
Section 67:12:05:07 - Bank account considered liquid asset

S.D. Admin. R. 67:12:05:07

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Current through Register Vol. 51, page 57, November 12, 2024
Section 67:12:05:07 - Bank account considered liquid asset

Money on deposit in a bank is a liquid asset whether in a checking account, a savings account, or a certificate of deposit. Unless the conditions of § 67:12:05:77 apply or the applicant or recipient produces clear and convincing evidence to the contrary, money held in a joint account is considered available to the applicant or recipient when the applicant or recipient has the power to draw on the account.

S.D. Admin. R. 67:12:05:07

SL 1975, ch 16, § 1; 7 SDR 66, 7 SDR 89, effective 7/1/1981; 12 SDR 112, effective 1/16/1986; 20 SDR 196, effective 5/23/1994.

General Authority: SDCL 28-7-2.

Law Implemented: SDCL 28-7-4.