11-11-97. Bonds as legal investments for financial institutions and fiduciaries.The state and all counties, municipalities, villages, and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, and all personal representatives, guardians, trustees, and other fiduciaries may legally invest any debt service funds, moneys or other funds belonging to them or within their control in any bonds issued pursuant to this chapter. The bonds may be deposited or segregated in lieu of surety bonds to secure deposits of any public funds, as provided in §4-6A-3 and any other law relating to the securing of public deposits. Source: SL 1973, ch 180, §47; SDCL Supp, §28-19-88; SL 1974, ch 195, §8; SL 1992, ch 60, §2; SL 2012, ch 78, §59.
South Dakota Legal Code