<html> <head> <title>Rule 06:01:01:02 Agency action on request.</title> <META NAME="Keywords" Content="Administrative Rules 06:01:01:02"> <META NAME="Description" Content="Administrative Rules 06:01:01:02 Agency action on request."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>6:01:01:02.&nbsp;&nbsp;Agency action on request.</b> Upon receipt of a petition for a change in rule the investment officer shall immediately mail one copy to each council member and set a meeting within 25 days to act on the petition. The meeting shall be held via a telephone conference call if the investment council does not meet with a quorum in a common place. If no other action is taken on the petition at the meeting, or if the meeting is not held within 30 days after the receipt of the petition, the chairman of the investment council must initiate rule-making proceedings as if the board had approved the petition. A hearing pursuant to SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=1-26-4">1-26-4(1)</A> shall be held no later than 60 days after the initial receipt of the petition by the investment officer.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> SL 1975, ch 16, 1.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-5-28">4-5-28.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=1-26-13">1-26-13</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=1-26-14">1-26-14.</A></p> </div> </body> </html>