South Dakota Codified Laws 10-39-54.2. Impact and economic diversification trust fund–Deposit of county funds therein–Threshold level for allocations
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Upon receipt of any funds paid to a county under the provisions of §§ 10-39-54 to 10-39-54.4, inclusive, the county treasurer shall deposit the funds in a trust account to be known as the impact and economic diversification trust fund. No allocation of such funds for authorized purposes may be made until the balance of such fund, including accumulated interest, initially reaches or exceeds a threshold level of four hundred thousand dollars.
Terms Used In South Dakota Codified Laws 10-39-54.2
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
Source: SL 1988, ch 101, § 3.