South Dakota Codified Laws 26-6-20.3. Demand trust account deposit of moneys not kept in center–Deposit with state treasurer by public agency
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Residents’ moneys not kept in the center, home, or facility, shall be deposited in a demand trust account in a local bank authorized to do business in South Dakota, except, however, that a public agency which is subject to §§ 26-6-20.1 to 26-6-20.10, inclusive, shall deposit such funds with the state treasurer in the appropriate trust and agency account for the facility.
Terms Used In South Dakota Codified Laws 26-6-20.3
- 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 1977, ch 279, § 5.