An Act to amend provisions regarding the Division of Insurance and the former Division of Securities operating fund.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That § 4-4-4.3 be AMENDED:

4-4-4.3. There is established within the state treasury the securities operating fund and the insurance operating fund, into which shall must be deposited all fees received by each division the Division of Insurance. All moneys in the funds fund created by this section shall be budgeted and expended in accordance with the provisions of Title 4 on warrants drawn by the state auditor on vouchers approved by the secretary of the Department of Labor and Regulation. Expenditures from these funds the fund may be made only to pay the necessary expenses of purposes specified in §§ 37-5B-1 to 37-5B-50, inclusive, and chapters 37-5B, 37-25A, 47-31B, and 47-33, and Title title 58.

Section 2. That § 4-4-4.4 be AMENDED:

4-4-4.4. At the end of each fiscal quarter, the treasurer shall transfer any cash balance in excess of one hundred seventy‑five two hundred thousand dollars from the insurance operating fund to the general fund. At the end of each fiscal quarter the treasurer shall transfer any cash balance in excess of fifteen thousand dollars from the securities operating fund to the general fund.