<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 1-53-25 - Deposit of trust assets with state treasurer--Purposes for which used.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s207839096968447ea0beb6e7bb18f6f2Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s207839096968447ea0beb6e7bb18f6f2SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s207839096968447ea0beb6e7bb18f6f2CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s207839096968447ea0beb6e7bb18f6f2Statute { text-indent: 0.50in; text-align: justify; 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font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 1-53-25 - Deposit of trust assets with state treasurer--Purposes for which used."><meta property="og:description" content="SDLRC Codified Law 1-53-25 - Deposit of trust assets with state treasurer--Purposes for which used."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=1-53-25"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s207839096968447ea0beb6e7bb18f6f2Normal"><a href="https://sdlegislature.gov/Statutes?Statute=1-53-25" rel="noopener"><span class="s207839096968447ea0beb6e7bb18f6f2SENU">1-53-25</span></a><span xml:space="preserve" class="s207839096968447ea0beb6e7bb18f6f2SENU">. </span><span class="s207839096968447ea0beb6e7bb18f6f2CL">Deposit of trust assets with state treasurer--Purposes for which used.</span></p><p dir="ltr" class="s207839096968447ea0beb6e7bb18f6f2Statute"><span xml:space="preserve" class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont">Notwithstanding any other provision of law, funds and the proceeds of the trust assets which are not authorized to be administered by the secretary of agriculture of the United States under the provisions of § </span><a href="https://sdlegislature.gov/Statutes?Statute=1-53-24" rel="noopener"><span class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont">1-53-24</span></a><span xml:space="preserve" class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont"> must be received by the commissioner of the Governor's Office of Economic Development under the application made pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=1-53-23" rel="noopener"><span class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont">1-53-23</span></a><span xml:space="preserve" class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont">, and deposited by the commissioner with the state treasurer for use by the commissioner of the Governor's Office of Economic Development for the rural rehabilitation purposes permissible under the charter of the now dissolved South Dakota Rural Rehabilitation Corporation, as may from time to time be agreed upon by the commissioner of the Governor's Office of Economic Development with the approval of the Governor and the secretary of agriculture of the United States, subject to the applicable provisions of Public Law 499, or for the purposes of § </span><a href="https://sdlegislature.gov/Statutes?Statute=1-53-24" rel="noopener"><span class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont">1-53-24</span></a><span class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont">.</span></p><p dir="ltr" class="s207839096968447ea0beb6e7bb18f6f2Normal"><span xml:space="preserve" class="s207839096968447ea0beb6e7bb18f6f2000000"> </span></p><p dir="ltr" class="s207839096968447ea0beb6e7bb18f6f2NoIndent"><span xml:space="preserve" class="s207839096968447ea0beb6e7bb18f6f2DefaultParagraphFont-000001">Source: </span><span class="s207839096968447ea0beb6e7bb18f6f2SCL">SL 1951, ch 4, § 4; SDC Supp 1960, § 4.0118; SDCL § 38-6-4; SL 2019, ch 235 (Ex. Ord. 19-1), § 44, eff. Apr. 14, 2019; SL 2023, ch 3, § 11.</span></p></div></body></html>