CHAPTER 6:03:01
CASH RECEIPTS TRANSMITTALS
Section
6:03:01:01 Remittance deadlines.
6:03:01:02 Local accounts.
6:03:01:01. Remittance deadlines. Funds destined for the state treasurer's office may be held for more than one working day if the amount to be remitted is under $500. However, all funds held by an agency shall be remitted every Thursday.
Source: 12 SDR 153, effective March 27, 1986.
General Authority:SDCL 4-3-4.2.
Law Implemented:SDCL 4-3-4.2.
6:03:01:02. Local accounts. State agencies which have local accounts are exempt from § 6:03:01:01 under the following circumstances:
(1) If an agency makes refunds from a local account, the agency may retain in the account the funds necessary for that purpose; and
(2) If an agency uses a local account only for remitting funds to the state treasurer, the agency may retain the funds until the balance reaches $500. Once that sum is reached, all funds must be remitted except those necessary for account maintenance or those funds authorized by the state auditor and treasurer under SDCL 4-4-3.
Source: 13 SDR 33, effective September 28, 1986.
General Authority:SDCL 4-3-4.2.
Law Implemented:SDCL 4-3-4.2.
Cross-Reference: Funds maintained in treasury -- Local bank accounts, SDCL 4-4-3.
