South Dakota § 4-6A-14 Payment of assessments by depositories--Liquidation of collateral on failure to pay.

South Dakota Statutes

§ 4-6A-14 — Payment of assessments by depositories--Liquidation of collateral on failure to pay.

South Dakota § 4-6A-14

Title 4PUBLIC FISCAL ADMINISTRATION

Ch. 4-6INSURANCE OF PUBLIC DEPOSITS

This text of South Dakota § 4-6A-14 (Payment of assessments by depositories--Liquidation of collateral on failure to pay.) 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 § 4-6A-14 (2026).

Text

Assessments made by the Public Deposit Protection Commission pursuant to § 4-6A-13 shall be payable on the second business day following demand, and in case of the failure of any qualified public depository so to pay, the commission shall forthwith take possession of the securities segregated as collateral by such depository pursuant to this chapter and liquidate the same for the purpose of paying such assessment.

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Assessments made by the Public Deposit Protection Commission pursuant to § 4-6A-13 shall be payable on the second business day following demand, and in case of the failure of any qualified public depository so to pay, the commission shall forthwith take possession of the securities segregated as collateral by such depository pursuant to this chapter and liquidate the same for the purpose of paying such assessment.