36-6A-7. Acceptance of funds by board--Separate fund--Payments from fund--Expense limited by revenue.

The board may accept any funds which may be made available to it from any source. All funds received by the board shall be kept in a separate fund for the sole use and under the sole control of the board. Payments out of the fund shall be made only upon authorization by the president of the board or the secretary-treasurer thereof. The board may expend funds necessary for the board to administer and carry out the provisions of this chapter. No expense may be incurred by the board in excess of the revenue derived from all sources.

Source: SDC 1939, § 27.0603; SL 1971, ch 213, § 6; SL 1992, ch 269, § 6; SL 2015, ch 199, § 5.