Section 7-20-14 - Active depositories not limited by maximum amount--Authority to exceed statutory maximum

7-20-14. Active depositories not limited by maximum amount--Authority to exceed statutory maximum.The limit of deposit which may be carried or deposited in any bank by the county treasurer, as provided in §7-20-10, does not apply to any bank designated as active depositories. However, no county treasurer may deposit in a bank more than the limit provided for by §7-20-10 unless the county treasurer receives express authority from the board of county commissioners evidenced by a resolution of such board authorizing the deposit of a greater amount. Source: SL 1927, ch 80, §1; SDC 1939, §12.0819; SL 2016, ch 44, §56.