South Dakota § 43-41B-24.5 Net receipts reduction--Distribution amount.

South Dakota Statutes

§ 43-41B-24.5 — Net receipts reduction--Distribution amount.

South Dakota § 43-41B-24.5

Title 43PROPERTY

Ch. 43-41AUNIFORM UNCLAIMED PROPERTY ACT

This text of South Dakota § 43-41B-24.5 (Net receipts reduction--Distribution amount.) 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 § 43-41B-24.5 (2026).

Text

Beginning in fiscal year 2026 and each fiscal year thereafter, the state treasurer shall, after paying from the unclaimed property operating fund all claims and any administrative costs associated with the sale of unclaimed property, deposit into the general fund the net receipts from unclaimed property, up to the general fund contribution limit, as established in § 43-41B-24.3 . Any net receipts from unclaimed property that exceed the general fund contribution limit as defined in § 43-41B-24.3 , must be deposited into the trust fund for unclaimed property. The state investment officer shall calculate an amount equal to four percent of the market value of the trust fund for unclaimed property, without invading principal, as eligible for distribution to the general fund. Until fiscal year 2

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

Beginning in fiscal year 2026 and each fiscal year thereafter, the state treasurer shall, after paying from the unclaimed property operating fund all claims and any administrative costs associated with the sale of unclaimed property, deposit into the general fund the net receipts from unclaimed property, up to the general fund contribution limit, as established in § 43-41B-24.3 . Any net receipts from unclaimed property that exceed the general fund contribution limit as defined in § 43-41B-24.3 , must be deposited into the trust fund for unclaimed property. The state investment officer shall calculate an amount equal to four percent of the market value of the trust fund for unclaimed property, without invading principal, as eligible for distribution to the general fund. Until fiscal year 2031, the distribution must be based on the market value as of each December thirty-first, beginning with the market value as of December 31, 2025. Beginning with the distribution in fiscal year 2031, the market value must be determined by adding the market value of the trust fund at the end of the sixteen most recent calendar quarters as of December thirty-first, and dividing the sum by sixteen. Upon notice of the amount by the state investment officer, the state treasurer shall transfer the distribution amount from the trust fund to the general fund as soon as practicable after July first of the next fiscal year.