South Dakota § 4-6-26 Borrowing on daily basis for management of state deposits--Repayment.

South Dakota Statutes

§ 4-6-26 — Borrowing on daily basis for management of state deposits--Repayment.

South Dakota § 4-6-26

Title 4PUBLIC FISCAL ADMINISTRATION

Ch. 4-6DEPOSITORIES OF PUBLIC FUNDS

This text of South Dakota § 4-6-26 (Borrowing on daily basis for management of state deposits--Repayment.) 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 § 4-6-26 (2026).

Text

For the purpose of managing deposits of state moneys, the state treasurer may, on a daily basis only, borrow moneys from any depository to cover advances made by a depository of the state on uncollected deposits. The state treasurer may pay interest on such borrowed moneys at a rate to be negotiated by him and the lending depository and may take such measures as are necessary to implement this section. All such moneys shall be repaid, with interest, before the end of the fiscal year in which they were borrowed. The state is not liable to repay such moneys from revenues of any later fiscal year.

Free access — add to your briefcase to read the full text and ask questions with AI

For the purpose of managing deposits of state moneys, the state treasurer may, on a daily basis only, borrow moneys from any depository to cover advances made by a depository of the state on uncollected deposits. The state treasurer may pay interest on such borrowed moneys at a rate to be negotiated by him and the lending depository and may take such measures as are necessary to implement this section. All such moneys shall be repaid, with interest, before the end of the fiscal year in which they were borrowed. The state is not liable to repay such moneys from revenues of any later fiscal year.