ARTICLE 6:01
STATE INVESTMENT COUNCIL
Chapter
6:01:01 Changes in rules.
6:01:02 State funds in South Dakota banks.
6:01:03 Savings and loan association, Repealed.
6:01:04 Investment in mortgage-backed securities, Repealed.
6:01:05 Investment in venture capital funds, Void.
6:01:06 Higher education savings plan, Repealed.
6:01:07 Other qualified public depositories, Repealed.
CHAPTER 6:01:01
CHANGES IN RULES
Section
6:01:01:01 Superseded.
6:01:01:02 Agency action on request, Repealed.
6:01:01:03 Request for decision from agency, Repealed.
6:01:01:04 Petition for declaratory ruling.
6:01:01:01. Petition for new rules.Superseded.
Commission Note: 1975 Session Laws, chapter 16, 24, provides a statutory procedure to use for petitioning an agency for amendments to its rules, thus effectively superseding this section.
6:01:01:02. Agency action on request. Repealed.
Source: SL 1975, ch 16, § 1; 50 SDR 12, effective August 8, 2023.
6:01:01:03. Request for decision from agency. Repealed.
Source: SL 1975, ch 16, § 1; 50 SDR 12, effective August 8, 2023.
06:01:01:04. Petition for declaratory ruling. A person described in SDCL 1-26-15 may file a petition with the State Investment Council requesting a declaratory ruling on the applicability of a statutory provision administered by the council or of a rule or order made by the council. The petition must be in writing and contain the facts necessary to inform the council of the nature of the ruling requested. Upon receipt of the petition, the council may request of the petitioner any additional information necessary for the council to issue its ruling. Within thirty days following the receipt of the petition, or within thirty days following receipt of any additional requested information, the council shall issue its declaratory ruling and serve a copy of the ruling by mail upon the petitioner.
Source: 50 SDR 12, effective August 8, 2023.
General Authority: SDCL 1-26-15.
Law Implemented: SDCL 1-26-15.
CHAPTER 6:01:02
STATE FUNDS IN SOUTH DAKOTA BANKS
Section
6:01:02:01 Setting rates.
6:01:02:02 Allocation of funds.
6:01:02:03 Repealed.
6:01:02:04 Repealed.
6:01:02:01. Setting rates. The investment council shall set the rates to be paid the state for its funds invested in certificates of deposit in South Dakota qualified public depositories. The investment council shall establish the date and time to be used for setting the rate at a regularly scheduled investment council meeting. The rate shall be based on a U.S. treasury note, federal agency note, or other financial instrument matching the term of the certificate of deposit.
Source: SL 1975, ch 16, § 1; 28 SDR 88, effective December 16, 2001; 36 SDR 27, effective August 26, 2009; 40 SDR 223, effective June 23, 2014.
General Authority: SDCL 4-5-28.
Law Implemented: SDCL 4-5-28.
6:01:02:02. Allocation of funds. The investment council may allocate a portion of the state funds to South Dakota qualified public depositories insured per SDCL subdivision 4-6A-1(2). Initially, each individual bank or association shall be offered a certificate of deposit on a pro rata basis of its South Dakota loans and municipal bonds outstanding to total loans and municipal bonds outstanding in South Dakota banks and associations. Any unsubscribed funds shall be immediately offered to other qualified public depositories on a pro rata basis of its South Dakota loans and municipal bonds outstanding to total loans and municipal bonds outstanding in South Dakota other qualified public depositories. However, the minimum allocation shall be equal to the current FDIC deposit insurance coverage limit. Collateralization is required for the allocation amount in excess of deposit insurance per SDCL 4-6A-3.
Source: SL 1975, ch 16, § 1; 4 SDR 67, effective April 18, 1978; 6 SDR 60, effective December 23, 1979; 28 SDR 88, effective December 16, 2001; 40 SDR 223, effective June 23, 2014.
General Authority: SDCL 4-5-28.
Law Implemented: SDCL 4-5-28.
6:01:02:03. Reallocation of funds.Repealed.
Source: SL 1975, ch 16, § 1; repealed, 28 SDR 88, effective December 16, 2001.
6:01:02:04. Program reentry. Repealed.
Source: SL 1975, ch 16, § 1; repealed, 40 SDR 223, effective June 23, 2014.
CHAPTER 6:01:03
SAVINGS AND LOAN ASSOCIATION
(Repealed. 40 SDR 223, effective June 23, 2014)
Section
6:01:03:01 Repealed.
6:01:03:02 Repealed.
6:01:03:03 Repealed.
6:01:03:01. Setting rates. Repealed.
Source: SL 1975, ch 16, § 1; 28 SDR 88, effective December 16, 2011; 36 SDR 27, effective August 26, 2009; repealed, 40 SDR 223, effective June 23, 2014.
6:01:03:02. Allocation of funds. Repealed.
Source: SL 1975, ch 16, § 1; repealed, 40 SDR 223, effective June 23, 2014.
6:01:03:03. Program reentry. Repealed.
Source: SL 1975, ch 16, § 1; 28 SDR 88, effective December 16, 2001; repealed, 40 SDR 223, effective June 23, 2014
CHAPTER 6:01:04
INVESTMENT IN MORTGAGE-BACKED SECURITIES
(Repealed)
Section
6:01:04:01 Investment in mortgage-backed securities permitted, Repealed.
6:01:04:02 Incorporation or charter of issuer, Repealed.
6:01:04:03 Delinquency rate on mortgage portfolio managed by issuer, Repealed.
6:01:04:04 Par value of mortgage collateral, Repealed.
6:01:04:05 Individual mortgage loans serving as collateral, Repealed.
6:01:04:06 Collateral for mortgages not federally insured or guaranteed, Repealed.
6:01:04:07 Mortgages to be controlled by trustee, Repealed.
6:01:04:08 Maturity of and security for fixed maturity bonds, Repealed.
6:01:04:09 Mortgage credit insurance and special hazard insurance for mortgage pass-through certificates, Repealed.
6:01:04:10 Registration with the securities and exchange commission, Repealed.
6:01:04:11 Purchase not to exceed 50 percent of one issue, Repealed.
6:01:04:12 Thirty percent of issue to be purchased by funds subject to certain federal regulation, Repealed.
6:01:04:13 Limit on purchase of any one issue, Repealed.
6:01:04:14 Prospectus required before purchase, Repealed.
6:01:04:15 Application of chapter, Repealed.
6:01:04:01. Investment in mortgage-backed securities permitted. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:02. Incorporation or charter of issuer. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:03. Delinquency rate on mortgage portfolio managed by issuer. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:04. Par value of mortgage collateral. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:05. Individual mortgage loans serving as collateral. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:06. Collateral for mortgages not federally insured or guaranteed. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:07. Mortgages to be controlled by trustee. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:08. Maturity of and security for fixed maturity bonds. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:09. Mortgage credit insurance and special hazard insurance for mortgage pass-through certificates. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:10. Registration with the securities and exchange commission. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:11. Purchase not to exceed 50 percent of one issue. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:12. Thirty percent of issue to be purchased by funds subject to certain federal regulation. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:13. Limit on purchase of any one issue. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:14. Prospectus required before purchase. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
6:01:04:15. Application of chapter. Repealed.
Source: 9 SDR 53, effective November 3, 1982; 50 SDR 12, effective August 8, 2023.
CHAPTER 6:01:05
INVESTMENT IN VENTURE CAPITAL FUNDS
(Void pursuant to SL 1993, ch 45)
Code Commission Note: The underlying rule-making authority of this chapter, SDCL 4-5-26(6) and the laws implemented by the rules, were repealed by SL 1993, ch 49, making §§ 6:01:05:01 to 6:01:05:05, inclusive, void under SDCL 1-26-8.1.
CHAPTER 6:01:06
HIGHER EDUCATION SAVINGS PLAN
(Repealed)
Section
6:01:06:01 Definitions, Repealed.
6:01:06:02 Changing designated beneficiary, Repealed.
6:01:06:03 Account balance limitations, Repealed.
6:01:06:04 Repealed.
6:01:06:05 Oversight of financial institutions, Repealed.
6:01:06:01. Definitions. Repealed.
Source: 28 SDR 47, effective October 7, 2001; SL 2002, ch 94, § 5, effective February 22, 2002; 40 SDR 223, effective June 23, 2014; 50 SDR 12, effective August 8, 2023.
6:01:06:02. Changing designated beneficiary. Repealed.
Source: 28 SDR 47, effective October 7, 2001; 50 SDR 12, effective August 8, 2023.
6:01:06:03. Account balance limitations. Repealed.
Source: 28 SDR 47, effective October 7, 2001; 50 SDR 12, effective August 8, 2023.
6:01:06:04. Withdrawals -- Reporting of nonqualified withdrawals -- Penalties.Repealed.
Source: 28 SDR 47, effective October 7, 2001; SL 2002, ch 94, § 6, effective February 22, 2002.
6:01:06:05. Oversight of financial institutions. Repealed.
Source: 28 SDR 47, effective October 7, 2001; 50 SDR 12, effective August 8, 2023.
CHAPTER 6:01:07
OTHER QUALIFIED PUBLIC DEPOSITORIES
(Repealed. 40 SDR 223, effective June 23, 2014)
Section
6:01:07:01 Repealed.
6:01:07:02 Repealed.
6:01:07:03 Repealed.
6:01:07:01. Definition of other qualified public depositories. Repealed.
Source: 28 SDR 88, effective December 16, 2001; repealed, 40 SDR 223, effective June 23, 2014.
6:01:07:02. Setting rates. Repealed.
Source: 28 SDR 88, effective December 16, 2001; 36 SDR 27, effective August 26, 2009; repealed, 40 SDR 223, effective June 23, 2014.
6:01:07:03. Program reentry. Repealed.
Source: 28 SDR 88, effective December 16, 2001; repealed, 40 SDR 223, effective June 23, 2014.
