<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 13-55-40 - Scholarship award payments--Amounts. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2042922Normal { 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.s2042922SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2042922CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2042922Normal-000000 { 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.s2042922DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2042922Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2042922Normal-000002 { text-indent: 0.25in; 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.s2042922000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2042922SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2042922SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2042922Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=13-55-40"><span class="s2042922SENU">13-55-40</span></a><span xml:space="preserve" class="s2042922SENU">. </span><span class="s2042922CL">Scholarship award payments--Amounts.</span></p><p dir="ltr" class="s2042922Normal-000000"><span class="s2042922DefaultParagraphFont">Scholarship award payments shall be made to the institution at the beginning of the fall or spring semester on behalf of the eligible student who has received a Richard Hagen-Minerva Harvey memorial scholarship. The amount of the award is as follows:</span></p><p dir="ltr" class="s2042922Normal-000001"><span class="s2042922DefaultParagraphFont">(1)    Not less than one thousand dollars for the first year of attendance;</span></p><p dir="ltr" class="s2042922Normal-000001"><span class="s2042922DefaultParagraphFont">(2)    Not less than one thousand dollars for the second year of attendance;</span></p><p dir="ltr" class="s2042922Normal-000001"><span class="s2042922DefaultParagraphFont">(3)    Not less than one thousand five hundred dollars for the third year of attendance; and</span></p><p dir="ltr" class="s2042922Normal-000001"><span class="s2042922DefaultParagraphFont">(4)    Not less than two thousand five hundred dollars for the fourth year of attendance.</span></p><p dir="ltr" class="s2042922Normal-000002"><span xml:space="preserve" class="s2042922DefaultParagraphFont">However, the total amount of awards in any year may not invade the principal investment referenced in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=13-55-37"><span class="s2042922DefaultParagraphFont">13-55-37</span></a><span class="s2042922DefaultParagraphFont">.</span></p><p dir="ltr" class="s2042922Normal"><span xml:space="preserve" class="s2042922000003"> </span></p><p dir="ltr" class="s2042922Normal"><span class="s2042922SCL">Source:</span><span xml:space="preserve" class="s2042922SCL-000004"> SL 2003, ch 109, § 4; SL 2014, ch 97, § 1.</span></p></div></body></html>