South Dakota § 3-22-12 Fund created--Expenditures--Investment--Purchase of annuity in settlement of claim.

South Dakota Statutes

§ 3-22-12 — Fund created--Expenditures--Investment--Purchase of annuity in settlement of claim.

South Dakota § 3-22-12

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-20LIABILITY COVERAGE PROGRAM FOR PUBLIC ENTITIES

This text of South Dakota § 3-22-12 (Fund created--Expenditures--Investment--Purchase of annuity in settlement of claim.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 3-22-12 (2026).

Text

There is hereby created on March 1, 1987, the public entity pool for liability fund to be used to pay claims pursuant to this chapter and the personal services and operating expenses for the management and operation of the PEPL. Any money in the fund shall be continuously appropriated and expenditures shall be made on warrants drawn by the state auditor on vouchers approved by the director and commissioner of human resources and administration. The money in the fund shall be invested by the State Investment Council and the fund shall retain the interest earned. If the bureau determines to purchase an annuity in settlement of a claim, it may purchase an annuity approved by the State Investment Council.

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There is hereby created on March 1, 1987, the public entity pool for liability fund to be used to pay claims pursuant to this chapter and the personal services and operating expenses for the management and operation of the PEPL. Any money in the fund shall be continuously appropriated and expenditures shall be made on warrants drawn by the state auditor on vouchers approved by the director and commissioner of human resources and administration. The money in the fund shall be invested by the State Investment Council and the fund shall retain the interest earned. If the bureau determines to purchase an annuity in settlement of a claim, it may purchase an annuity approved by the State Investment Council.