62-5-13. Deposit of certificate of deposit or government securities.Certificates of deposit or approved government securities shall be deposited on behalf of the department by the self-insured employer with the state treasurer or a financial institution approved by the department. Certificates of deposit or approved government securities shall be accepted by the state treasurer for deposit and shall be withdrawn only upon written order of the secretary of the Department of Labor and Regulation. Interest or gains earned on any certificate security, or deposit shall be paid to the self-insurer at least annually. Source: SL 1989, ch 453, §5; SL 2011, ch 1 (Ex. Ord. 11-1), §33, eff. Apr. 12, 2011.
South Dakota Legal Code