South Dakota Codified Laws 13-16-18.1. Domestic federal credit union as public depository–Requirement
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Any domestic federal credit union chartered by the United States is a qualified public depository for school district funds if such funds are invested in accounts which are insured by the National Credit Union Administration.
Terms Used In South Dakota Codified Laws 13-16-18.1
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
Source: SL 1987, ch 71, § 3; SL 1988, ch 27, § 2.