<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 5-2-2.3 - Use of proceeds and interest from sale. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2034093Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034093SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034093CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2034093Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034093DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034093000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034093SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034093SCL-000002 { 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="s2034093Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-2-2.3"><span class="s2034093SENU">5-2-2.3</span></a><span xml:space="preserve" class="s2034093SENU">. </span><span class="s2034093CL">Use of proceeds and interest from sale.</span></p><p dir="ltr" class="s2034093Normal-000000"><span xml:space="preserve" class="s2034093DefaultParagraphFont">Except for the proceeds from the sale of endowment lands, the net proceeds, and accumulated interest from sale of land under the Board of Regents pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-2-2.1"><span class="s2034093DefaultParagraphFont">5-2-2.1</span></a><span xml:space="preserve" class="s2034093DefaultParagraphFont"> shall be used by the Board of Regents for acquisition of real and personal property or capital improvements subject to the approval of the Legislature. For purposes of this section, the definition of capital improvement contained in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=5-14-1"><span class="s2034093DefaultParagraphFont">5-14-1</span></a><span xml:space="preserve" class="s2034093DefaultParagraphFont"> applies.</span></p><p dir="ltr" class="s2034093Normal"><span xml:space="preserve" class="s2034093000001"> </span></p><p dir="ltr" class="s2034093Normal"><span class="s2034093SCL">Source:</span><span xml:space="preserve" class="s2034093SCL-000002"> SL 1976, ch 7, § 2; SL 1989, ch 20, § 54; SL 1989, ch 49, § 2; SL 1990, ch 30, § 19; SL 2011, ch 29, § 7; SL 2011, ch 30, § 6; SL 2018, ch 111, § 8, eff. Feb. 8, 2018.</span></p></div></body></html>