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4-1 STATE BOARD OF FINANCE
CHAPTER 4-1

STATE BOARD OF FINANCE

4-1-1      Composition of State Board of Finance--Quorum--Chairman and secretary.
4-1-2      Record of proceedings open to public--Meetings of board.
4-1-3      Repealed.
4-1-4      Administrative direction and supervision by secretary of state--Independent functions retained by board.
4-1-5      Disqualification of member of board--Selection of replacement.


4-1-1 Composition of State Board of Finance--Quorum--Chairman and secretary.
     4-1-1.   Composition of State Board of Finance--Quorum--Chairman and secretary. The State Board of Finance shall consist of the Governor, state treasurer, secretary of state, state auditor, attorney general, commissioner of school and public lands, commissioner of finance and management, and commissioner of administration, any five of whom shall constitute a quorum. The Governor shall be chairman of the board and the secretary of state its secretary.

Source: SL 1909, ch 229, § 1; SL 1911, ch 234, § 1; RC 1919, § 6872; SL 1923, ch 278, § 1; SL 1925, ch 115, ch II, art VI, § 3; SL 1925, ch 280; SDC 1939, § 55.2001; SL 1943, ch 257, § 10; SL 1972, ch 24; SL 1979, ch 31.


4-1-2 Record of proceedings open to public--Meetings of board.
     4-1-2.   Record of proceedings open to public--Meetings of board. A record of the proceedings of the State Board of Finance shall be kept in the Office of the Secretary of State and be open at all times to public inspection. Such board shall meet on the third Tuesday of each month, or more frequently upon the request of the chairman or secretary.

Source: SL 1909, ch 229, § 1; SL 1911, ch 234, § 1; RC 1919, § 6872; SL 1923, ch 278, § 1; SDC 1939, § 55.2001; SL 1943, ch 257, § 10.


4-1-3 Repealed by SL 1984, ch 30, § 65.
     4-1-3.   Repealed by SL 1984, ch 30, § 65.


4-1-4 Administrative direction and supervision by secretary of state--Independent functions reta...
     4-1-4.   Administrative direction and supervision by secretary of state--Independent functions retained by board. The Board of Finance shall be administered under the direction and supervision of the secretary of state, but shall retain the quasi-judicial, quasi-legislative, advisory, other nonadministrative, and special budgetary functions (as defined in § 1-32-1) otherwise vested in it and shall exercise those functions independently of the secretary of state.

Source: SL 1974, ch 6, § 2.


4-1-5 Disqualification of member of board--Selection of replacement.
     4-1-5.   Disqualification of member of board--Selection of replacement. If any member of the Board of Finance determines himself disqualified from acting on any matter considered under the provisions of this chapter, he shall notify the board of his determination in writing. Upon receipt of the determination of disqualification, the remaining members of the Board of Finance shall select, by a majority vote, a replacement. The individual selected to replace a disqualified member of the Board of Finance shall have all the powers and duties of a regular member of the board with respect to the matter before the board that caused the regular member to disqualify himself.

Source: SL 1982, ch 43.


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