<html> <head> <title>Rule 06:03:01:02 Local accounts.</title> <META NAME="Keywords" Content="Administrative Rules 06:03:01:02"> <META NAME="Description" Content="Administrative Rules 06:03:01:02 Local accounts."> <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>6:03:01:02.&nbsp;&nbsp;Local accounts.</b> State agencies which have local accounts are exempt from &nbsp;6:03:01:01 under the following circumstances:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;If an agency makes refunds from a local account, the agency may retain in the account the funds necessary for that purpose; and</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;If an agency uses a local account only for remitting funds to the state treasurer, the agency may retain the funds until the balance reaches $500. Once that sum is reached, all funds must be remitted except those necessary for account maintenance or those funds authorized by the state auditor and treasurer under SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-4-3">4-4-3.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 13 SDR 33, effective September 28, 1986.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-3-4.2">4-3-4.2.</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=4-3-4.2">4-3-4.2.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Cross-Reference:</b> Funds maintained in treasury -- Local bank accounts, SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-4-3">4-4-3.</A></p> </div> </body> </html>