S.D. Admin. R. 67:46:05:35

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

Section 67:46:05:35 - Bank accounts

Deposits in a bank, savings and loan, or similar institution are considered liquid resources whether they are in the form of a checking or savings account or a certificate of deposit. Deposits held in joint accounts are considered available to the applicant or recipient when the applicant or recipient has control or can direct the disposition of funds from the accounts. Accounts held in joint ownership with other eligible individuals are divided equally among the eligible individuals. Deposits counted as income in the month the income was received are not a countable resource until the month following the month of receipt of the income.

S.D. Admin. R. 67:46:05:35

2 SDR 74, effective 5/13/1976; 7 SDR 23, effective 9/18/1980; 7 SDR 66, 7 SDR 89, effective 7/1/1981; 8 SDR 170, effective 6/21/1982; transferred from § 67:16:20:19, effective 8/23/1992; 41 SDR 93, effective 12/3/2014.

General Authority: SDCL 28-6-1.

Law Implemented: SDCL 28-6-1.