<html> <head> <title>Rule 06:02:02:06.02 Requirements on public depository furnishing collateral.</title> <META NAME="Keywords" Content="Administrative Rules 06:02:02:06.02"> <META NAME="Description" Content="Administrative Rules 06:02:02:06.02 Requirements on public depository furnishing collateral."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 14 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} @font-face {font-family:Times; panose-1:2 2 6 3 5 4 5 2 3 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; punctuation-wrap:simple; text-autospace:none; font-size:10.0pt; font-family:"Times","serif";} /* Page Definitions */ @page WordSection1 {size:8.5in 11.0in; margin:49.7pt 63.35pt 49.7pt 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US> <div class=WordSection1> <p class=MsoNormal style='text-align:justify'><a name="_GoBack"></a><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>6:02:02:06.02.&nbsp;&nbsp;Requirements on public depository furnishing collateral.</b> The commission may request information from any qualified public depository pledging eligible collateral, which enables the commission to determine that the state's security interests in the eligible collateral may be perfected. If the commission determines that a qualified public depository does not have, in accordance with SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-6A-3">4-6A-3</A>, segregated eligible collateral as security for uninsured public deposits in the amount of at least 100 percent of the uninsured deposits, the public depository must use eligible collateral that adequately secures the public deposits so that public deposits are granted a paramount, preferred, and perfected first lien on the public depository's assets segregated.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman","serif"'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b><span style='font-size:12.0pt'>Source</span></b><span style='font-size:12.0pt'>:</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'> 24 SDR 93, effective January 12, 1998; 42 SDR 51, effective October 13, 2015.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-6A-20">4-6A-20.</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-6A-3">4-6A-3</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-6A-6">4-6A-6</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-10-9">51A-10-9.</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman","serif"'>&nbsp;</span></p> </div> </body> </html>