<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 51A-17-102 - Permissible investments described.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s746fe98807ac469ca05c92eba58f5e09Normal { 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.s746fe98807ac469ca05c92eba58f5e09SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s746fe98807ac469ca05c92eba58f5e09CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s746fe98807ac469ca05c92eba58f5e09Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; 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font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s746fe98807ac469ca05c92eba58f5e09SCL { 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><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 51A-17-102 - Permissible investments described."><meta property="og:description" content="SDLRC Codified Law 51A-17-102 - Permissible investments described."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/51A-17-102"><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="s746fe98807ac469ca05c92eba58f5e09Normal"><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-102" rel="noopener"><span class="s746fe98807ac469ca05c92eba58f5e09SENU">51A-17-102</span></a><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09SENU">. </span><span class="s746fe98807ac469ca05c92eba58f5e09CL">Permissible investments described.</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09Statute"><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">The following investments are permissible under § </span><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-101" rel="noopener"><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">51A-17-101</span></a><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">:</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09StatuteNumber1"><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">(1)    Cash, including demand deposits, savings deposits, and funds in such accounts held for the benefit of the licensee's customers in a federally-insured depository financial institution, and cash equivalents, including ACH items in transit to the licensee and ACH items or international wires in transit to a payee, cash in transit via armored car, cash in smart safes, cash in licensee-owned locations, debit card or credit card-funded transmission receivables owed by any bank, or money market mutual funds rated "AAA" by S&amp;P, or the equivalent from any eligible rating service;</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09StatuteNumber1"><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">(2)    Certificates of deposit or senior debt obligations of an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act, 12 U.S.C. § 1813 (January 1, 2024) or as defined under the federal Credit Union Act, 12 U.S.C. § 1781 (January 1, 2024);</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09StatuteNumber1"><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">(3)    An obligation of the United States or a commission, agency, or instrumentality thereof; an obligation that is guaranteed fully as to principal and interest by the United States; or an obligation of a state or a governmental subdivision, agency, or instrumentality thereof;</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09StatuteNumber1"><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">(4)    The full drawable amount of an irrevocable standby letter of credit for which the stated beneficiary is the director that stipulates that the beneficiary need only draw a sight draft under the letter of credit and present it to obtain funds up to the letter of credit amount within seven days of presentation of the items required by § </span><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-105" rel="noopener"><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">51A-17-105</span></a><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">; and</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09StatuteNumber1"><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">(5)    One hundred percent of the surety bond or deposit provided for under § </span><a href="https://sdlegislature.gov/Statutes?Statute=51A-17-100" rel="noopener"><span class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont">51A-17-100</span></a><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont"> that exceeds the average daily money transmission liability in this state.</span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09Normal"><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09000000"> </span></p><p dir="ltr" class="s746fe98807ac469ca05c92eba58f5e09NoIndent"><span xml:space="preserve" class="s746fe98807ac469ca05c92eba58f5e09DefaultParagraphFont-000001">Source: </span><span class="s746fe98807ac469ca05c92eba58f5e09SCL">SL 2024, ch 196, § 51.</span></p></div></body></html>