This text of South Dakota § 51A-17-108 (Additional permissible investments described.) 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.
Unless permitted by the director, by rule or by order, to exceed the limit as set forth herein, the following investments are permissible under § 51A-17-101 to the extent specified:
(1)Receivables that are payable to a licensee from its authorized delegates in the ordinary course of business that are less than seven days old, up to fifty percent of the aggregate value of the licensee's total permissible investments;
(2)Of the receivables permissible under subdivision (1) of this section, receivables that are payable to a licensee from a single authorized delegate in the ordinary course of business may not exceed ten percent of the aggregate value of the licensee's total permissible investments;
(3)The following investments are permissible up to twenty percent per category and c
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Unless permitted by the director, by rule or by order, to exceed the limit as set forth herein, the following investments are permissible under § 51A-17-101 to the extent specified: (1) Receivables that are payable to a licensee from its authorized delegates in the ordinary course of business that are less than seven days old, up to fifty percent of the aggregate value of the licensee's total permissible investments; (2) Of the receivables permissible under subdivision (1) of this section, receivables that are payable to a licensee from a single authorized delegate in the ordinary course of business may not exceed ten percent of the aggregate value of the licensee's total permissible investments; (3) The following investments are permissible up to twenty percent per category and combined up to fifty percent of the aggregate value of the licensee's total permissible investments: (a) A short-term investment, an investment lasting up to six months, bearing an eligible rating; (b) Commercial paper bearing an eligible rating; (c) A bill, note, bond, or debenture bearing an eligible rating; (d) U.S. tri-party repurchase agreements collateralized at one hundred percent or more with U.S. government or agency securities, municipal bonds, or other securities bearing an eligible rating; (e) Money market mutual funds rated less than "AAA" and equal to or higher than "A-" by S&P or the equivalent from any other eligible rating service; and (f) A mutual fund or other investment fund composed solely and exclusively of one or more permissible investments listed in subdivisions 51A-17-102 (1) to (3), inclusive; (4) Cash, including demand deposits, savings deposits, and funds in such accounts held for the benefit of the licensee's customers, at foreign depository institutions are permissible up to ten percent of the aggregate value of the licensee's total permissible investments if the licensee has received a satisfactory rating in its most recent examination and the foreign depository institution: (a) Has an eligible rating; (b) Is registered under the Foreign Account Tax Compliance Act; (c) Is not located in any country subject to sanctions from the Office of Foreign Asset Control; and (d) Is not located in a high-risk or non-cooperative jurisdiction as designated by the Financial Action Task Force.