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State of South Dakota
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SEVENTY-SIXTH
SESSION
LEGISLATIVE ASSEMBLY, 2001 |
| 643E0452 |
HOUSE BILL
NO.
1106
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| Introduced by: Representatives Napoli, Brown (Richard), Klaudt, Kooistra, McCoy, Michels, and Olson (Mel) and Senators Hainje, Brown (Arnold), Daugaard, de Hueck, Everist, Koetzle, Staggers, and Sutton (Dan) |
FOR AN ACT ENTITLED, An Act to
revise the classes of investments available for state funds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 4-5-26 be amended to read as follows:
4-5-26. Money made available for investment may be invested in the following classes of securities and investments and, except as provided by § 3-12-117, chapter 3-13, and the South Dakota Cement Plant retirement fund, not otherwise:
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 4-5-26 be amended to read as follows:
4-5-26. Money made available for investment may be invested in the following classes of securities and investments and, except as provided by § 3-12-117, chapter 3-13, and the South Dakota Cement Plant retirement fund, not otherwise:
(1)
Direct and indirect obligations of the United States government;
(2)
Agencies and instrumentalities of the United States government;
(3)
Direct obligations of the State of South Dakota and any of its political subdivisions;
(4)
Obligations consisting of notes, bonds, debentures, and certificates which are direct
obligations of a solvent corporation or trust existing under the laws of the United
States or any state thereof,
provided that
if
such investments
shall be
are
rated in the
four highest classifications established by at least two standard rating services;
(5)
Savings accounts, share accounts, certificates of deposit of banks, savings and loan
associations, credit unions, building and loan associations , and bankers' acceptances.
