South Dakota Codified Laws 10-50B-19. State directory–Manufacturers–Surety bond–Amount
Before being listed in the state directory of manufacturers and brands permitted to be sold, any tobacco product manufacturer required to place a deposit into a qualified escrow fund pursuant to subdivision 10-50B-7 (2) shall provide a surety bond to the attorney general at least ten days before the beginning of each calendar quarter. The amount of the bond shall be the greater of:
(1) The largest required deposit into a qualified escrow fund by the tobacco product manufacturer or the tobacco product manufacturer’s predecessor for any of the twelve preceding calendar quarters; or
Terms Used In South Dakota Codified Laws 10-50B-19
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
(2) Twenty-five thousand dollars.
Source: SL 2020, ch 36, § 2.