<html> <head> <title>Rule 06:01:06:01 Definitions.</title> <META NAME="Keywords" Content="Administrative Rules 06:01:06:01"> <META NAME="Description" Content="Administrative Rules 06:01:06:01 Definitions."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 14 (filtered)"> <style> <!-- /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:12.0pt; font-family:"Times New Roman","serif";} p.MsoBodyText, li.MsoBodyText, div.MsoBodyText {margin:0in; margin-bottom:.0001pt; text-align:justify; font-size:12.0pt; font-family:"Times New Roman","serif";} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US> <div class=WordSection1> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>6:01:06</b><b>:01.&nbsp;&nbsp;Definitions.</b> Words and phrases defined in SDCL chapter <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=13-63">13-63</A> have the same meaning when used in this chapter. Terms used in this chapter mean:</p> <p class=MsoBodyText>&nbsp;</p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;&quot;Cash,&quot; currency, bills, and coin in circulation, or converting a negotiable instrument to cash by endorsing and presenting to a financial institution for deposit. An automatic transfer, cashier's check, certified check, money order, payroll deposit, traveler's check, personal check, and wire transfer are cash;</p> <p class=MsoBodyText>&nbsp;</p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;&quot;Investment direction,&quot; specifying or attempting to specify the particular financial instruments or ownership interests either individually, or within a fund family or other group of financial instruments or ownership interests held as an investment group, into which the contributions or earnings are invested. Investment direction does not mean selecting an initial type of investment program if more than one program is offered;</p> <p class=MsoBodyText>&nbsp;</p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;&quot;IRC,&quot; section 529 of the Internal Revenue Code as amended on February 17, 2009;</p> <p class=MsoBodyText>&nbsp;</p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;&quot;Program manager,&quot; any financial institution selected by the council to act as the depository and manager for the higher education savings plan.</p> <p class=MsoBodyText>&nbsp;</p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 28 SDR 47, effective October 7, 2001; SL 2002, ch 94, &#167;&nbsp;5, effective February 22, 2002; 40 SDR 223, effective June 23, 2014.</p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=13-63-2">13-63-2(2).</A></p> <p class=MsoBodyText>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=13-63-4">13-63-4</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=13-63-10">13-63-10</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=13-63-18">13-63-18.</A></p> <p class=MsoBodyText>&nbsp;</p> </div> </body> </html>