reglab/housing_qa huggingface dataset:
SD Codified L § 4-5-6.2 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-6.2 - Investment in direct obligations of county, municipality, or school district or in bonds issued by state authority.

4-5-6.2. Investment in direct obligations of county, municipality, or school district or in bonds issued by state authority.In addition to the investments permitted by §4-5-6, any public funds which are not needed for current operating expenses may be invested in:(1)Direct obligations of any county, municipality, or school district in the state; and(2)Bonds issued by the South Dakota Housing Development Authority, the South Dakota Health and Educational Facilities Authority, or the South Dakota Building Authority.The investments shall be registered in the name of the political subdivision or authority or held under a custodial agreement at a bank. The investments shall be rated at the time of purchase within the two highest general classifications established by a rating service of nationally recognized expertise in rating bonds of states and their political subdivisions. Other than permanent, trust, retirement, building, and depreciation reserve funds, such securities as provided in subdivisions (1) and (2) shall mature with eighteen months from the date of purchase or be redeemable at par at the option of the holder within eighteen months from the date of purchase.Moneys in any bond redemption fund may be invested only in the types of investments listed in §4-5-6. The investments shall be due and payable on or before the date when the bonds for the payment of which the bond redemption fund was created become due and payable, except bonds of the United States redeemable at par.No restriction in this section limits the investment authority otherwise granted under the laws of this state. Source: SL 2011, ch 26, §1; SL 2012, ch 32, §1.
SD Codified L § 4-5-8 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-8 - Investment policies for local funds determined by governing board.

4-5-8. Investment policies for local funds determined by governing board.Investments of public funds as defined in §4-5-5 shall be made only after the adoption of a proper resolution by the governing board of such county, municipality, township, or school district. Such resolution shall state the investment policies to be followed by the treasurer thereof. Source: SL 1945, ch 359, §2; SDC Supp 1960, §48.0507; SL 1961, ch 258, §1; SL 1967, ch 237, §1; SL 1972, ch 25.
SD Codified L § 4-5-9 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-9 - Custody or deposit of investments--Exception--Credit of interest earned.

4-5-9. Custody or deposit of investments--Exception--Credit of interest earned.Except for investments authorized by subdivision 4-5-6(c), all investments made pursuant to §§4-5-5, 4-5-6, 4-5-8, 4-5-23, and 4-5-28 shall be in the physical custody of the political subdivision or may be deposited in a safekeeping account with any bank or trust company designated by the political subdivision as its fiscal agent. The interest earned shall be credited to the respective fund or the general fund. Source: SL 1945, ch 359, §3; SDC Supp 1960, §48.0507; SL 1961, ch 258, §1; SL 1967, ch 237, §1; SL 1988, ch 44, §2.
SD Codified L § 4-5-10 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-10 - Application for redemption of securities.

4-5-10. Application for redemption of securities.The governing bodies of such counties, municipalities, townships, and school districts shall, either at the time of purchase or at any other time, direct the time and manner of making application for redemption of such securities. Source: SL 1945, ch 359, §2; SDC Supp 1960, §48.0507; SL 1961, ch 258, §1; SL 1967, ch 237, §1.
SD Codified L § 4-5-11 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-11 - Supplemental authority for investment of public funds.

4-5-11. Supplemental authority for investment of public funds.Sections 4-5-5 to 4-5-10, inclusive, are supplemental to any other laws relating to the investment, deposit, or administration of the public funds therein specified, and shall supersede the provisions thereof only to the extent that such other laws may restrict or prohibit investments in accordance with the provisions thereof. Source: SL 1945, ch 359, §3; SDC Supp 1960, §48.0507; SL 1961, ch 258, §1; SL 1967, ch 237, §1.
SD Codified L § 4-5-12 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-12 - State Investment Council continued.

4-5-12. State Investment Council continued.The State Investment Council is hereby continued. Source: SL 1971, ch 27, §1; SL 1974, ch 38, §1.
SD Codified L § 4-5-12.1 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-12.1 - Regulations and reports provided to state treasurer.

4-5-12.1.Regulations and reports provided to state treasurer.For the purposes of S. D. Const., Art. IV, §8, the State Investment Council and Division of Investment are allocated to the Office of the State Treasurer for reporting purposes only. For the purposes of this section, reporting purposes shall mean that the State Investment Council shall provide to the state treasurer a report of the investment policy regulations adopted pursuant to §4-5-28 and the monthly report of the state investment officer submitted to it in compliance with §4-5-32. Source: SL 1973, ch 2, §§5, 17; SL 1974, ch 38, §3.
SD Codified L § 4-5-13 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-13 - Appointment and terms of investment council members.

4-5-13. Appointment and terms of investment council members.The State Investment Council shall consist of eight voting members. Five members of the council shall be appointed by the Executive Board of the Legislative Research Council and the executive board may appoint persons holding public office, appointive or elective, provided that no more than three members of the State Investment Council, at any one time, shall hold public office. Action shall be by majority vote. Each of the members of the State Investment Council shall be appointed for a term of five years. No more than four appointed members may be members of the same political party. In addition to those members appointed by the executive board, the state treasurer, the commissioner of school and public lands, and the executive director of the South Dakota Retirement System shall serve as ex officio voting members. Source: SL 1971, ch 27, §§2, 3; SL 1976, ch 49; SL 1977, ch 35, §2; SL 1981, ch 28, §1; SL 1986, ch 42, §1; SL 2016, ch 35, §1.
SD Codified L § 4-5-14 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-14 - Council members—Qualifications--Restrictions.

4-5-14. Council members—Qualifications--Restrictions.The members of the State Investment Council shall be qualified by training and experience in the field of investment or finance. During tenure as a member of the State Investment Council, no member of the council nor the firm of any member may engage in the sale of marketable or public securities to the state, or to any fund thereof, which are invested by the State Investment Council. No member may benefit directly or indirectly from any transaction made by the state investment officer. No member may hold any office, position, or employment in any political party. Except as provided in §4-5-14.1, the council may not enter into any contract or transaction with any firm or business in which a council member serves as a principal, shareholder, trustee, director, officer, employee, agent, or independent contractor. Source: SL 1971, ch 27, §4; SL 2003, ch 28, §1; SL 2020, ch 20, § 1.
SD Codified L § 4-5-14.1 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-14.1 - Exceptions to § 4-5-14.

4-5-14.1. Exceptions to §4-5-14.The provisions of §§4-5-14 and 4-5-14.1, inclusive, do not prohibit a transaction that:(1)Affects the public generally, and the council member's personal interest is only affected by virtue of being a member of the general public; or(2)Affects participants in the South Dakota Retirement System generally, and the council member's personal interest is only affected by virtue of being a participant in the South Dakota Retirement System; or(3)Involves the acceptance of deposits under a statewide certificate of deposit program made generally available to South Dakota financial institutions or the sale of interests in the South Dakota Higher Education Savings Program authorized pursuant to chapter 13-63 even though the council member has an interest as a principal, shareholder, trustee, director, officer, employee, independent contractor, or advisor of a financial institution or firm that would accept such deposits or sell such interests, if the council member has disclosed such interest in such financial institution or firm to the council. Source: SL 2003, ch 28, §2.
SD Codified L § 4-5-16 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-16 - Removal of council member from office--Filling of vacancies.

4-5-16. Removal of council member from office--Filling of vacancies.A member of the State Investment Council appointed by the Executive Board of the Legislative Research Council may be removed from office by the Executive Board of the Legislative Research Council, for cause, upon notice and opportunity to be heard at a public hearing. Any vacancy in the membership of the council occurring other than by expiration of term shall be filled in the same manner as the original appointment, but for the unexpired term only. Source: SL 1971, ch 27, §5; SL 1981, ch 28, §2.
SD Codified L § 4-5-17 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-17 - Election of chairman.

4-5-17. Election of chairman.The chairman and presiding officer of the State Investment Council shall be elected by majority vote of the council. Source: SL 1971, ch 27, §6.
SD Codified L § 4-5-18 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-18 - Division of investment continued--Immediate supervision.

4-5-18. Division of investment continued--Immediate supervision.The division of investment is hereby continued, to conduct the daily operations of the State Investment Council and the division shall be under the immediate supervision and direction of a person who shall be designated the "state investment officer." Source: SL 1971, ch 27, §8; SL 1974, ch 38, §2.
SD Codified L § 4-5-19 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-19 - Appointment of state investment officer--Removal--Qualifications.

4-5-19. Appointment of state investment officer--Removal--Qualifications.The state investment officer shall be appointed by the State Investment Council upon a majority vote and shall serve without term, but he may be removed from office upon a majority vote of the State Investment Council. He shall be a person qualified, by training and investment experience, to direct the work of the Division of Investment. Source: SL 1971, ch 27, §§9, 10; SL 1986, ch 42, §2.
SD Codified L § 4-5-20 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-20 - Investment officer to devote full time--Salary.

4-5-20. Investment officer to devote full time--Salary.The state investment officer shall devote his entire time and attention to the duties of his office, shall not be engaged in any other occupation or profession, nor shall he hold any other public office, appointive or elective. The salary of the state investment officer shall be set by the Executive Board of the Legislative Research Council. Source: SL 1971, ch 27, §9.
SD Codified L § 4-5-21 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-21 - State employees' blanket bond coverage--Premium.

4-5-21. State employees' blanket bond coverage--Premium.Before the state investment officer, or other responsible employee of the Division of Investment shall enter upon his duties, he shall be included under the state employees' blanket bond, for an amount and for coverage as deemed best to protect the state's interest. The premium thereon shall not be chargeable to the officer or employee. Source: SL 1971, ch 27, §11.
SD Codified L § 4-5-22 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-22 - Annual budget for division--Appointment of employees.

4-5-22. Annual budget for division--Appointment of employees.The state investment officer shall annually prepare a budget which shall be reviewed and approved by the State Investment Council and the Executive Board of the Legislative Research Council, prior to submission to the Bureau of Finance and Management. Subject to the appropriate rules and regulations regarding state employment, the state investment officer shall appoint all employees of the Division of Investment. Source: SL 1971, ch 27, §12; SL 1987, ch 44, §2.
SD Codified L § 4-5-25 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-25 - Monthly reports to investment officer of state transactions.

4-5-25. Monthly reports to investment officer of state transactions.It shall be the duty of the state treasurer and the state auditor to report monthly, or more often as determined by the state investment officer, to the state investment officer as to receipts, expenditures, and warrants paid, so that the state investment officer may be informed as to what moneys will be available for the purposes of §§4-5-12 to 4-5-39, inclusive. Source: SL 1971, ch 27, §22.
SD Codified L § 4-5-26 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-26 - Classes of investments approved.

4-5-26. Classes of investments approved.Money made available for investment may be invested in the following classes of securities and investments and, except as provided by §3-12C-223, chapter 3-13, chapter 13-63, the permanent trust fund containing the net proceeds from the sale of state cement enterprises, the health care trust fund as provided in S.D. Const., Art. XII, §5, and the education enhancement trust fund as provided in S.D. Const., Art. XII, §6, not otherwise:(1)Direct and indirect obligations of the United States government;(2)Agencies and instrumentalities of the United States government;(3)Direct obligations of the State of South Dakota and any of its political subdivisions;(4)Obligations consisting of notes, bonds, debentures, and certificates which are direct obligations of a solvent corporation or trust existing under the laws of the United States or any state thereof, if such investments are rated in the four highest classifications established by at least two standard rating services at the time of purchase; (5)Savings accounts, share accounts, certificates of deposit of banks, savings and loan associations, building and loan associations, and bankers' acceptances; or(6)In addition to the investments authorized by subdivisions (1) to (5) of this section, inclusive, the investment council may also allocate a sum certain of state public funds for investment in the accounts and certificates of South Dakota banks and associations. This sum shall initially be offered to South Dakota banks and associations, and if not initially fully subscribed, the investment officer shall immediately reoffer the unsubscribed sum to other qualified public depositories defined by subdivision 4-6A-1(7). Source: SL 1971, ch 27, §20; SL 1977, ch 36; SL 1986, ch 43; SL 1993, ch 49; SL 2000, ch 27, §3; SL 2001, ch 24, §1; SL 2001, ch 25, §2; SL 2001, ch 26, §2; SL 2002, ch 26, §§2, 4; SL 2015, ch 34, §1.
SD Codified L § 4-5-27 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-27 - Prudent-man standard required in investments.

4-5-27. Prudent-man standard required in investments.Any investments under the provisions of §§4-5-12 to 4-5-39, inclusive, shall be made with the exercise of that degree of judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation but for investment, considering the probable safety of their capital as well as the probable income to be derived. Source: SL 1971, ch 27, §21; SL 1985, ch 15, §18.
SD Codified L § 4-5-28 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-28 - Policy regulations and restrictions formulated by council.

4-5-28. Policy regulations and restrictions formulated by council.The State Investment Council shall formulate investment policy regulations pertaining to the kind or nature of investment of any of the moneys, and any restrictions upon the methods for investment, which shall govern the state investment officer. Source: SL 1971, ch 27, §17.
SD Codified L § 4-5-29 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-29 - Investment officer authorized to make transactions--Duty to protect state interests.

4-5-29. Investment officer authorized to make transactions--Duty to protect state interests.Subject to any limitations, conditions, and restrictions contained in policy making regulations approved by the State Investment Council or contained in state law or the State Constitution, the state investment officer may make purchases, sales, exchanges, and investments, for or on behalf of any of the funds referred to in §4-5-23. The state investment officer shall see that moneys invested under the provisions of §§4-5-12 to 4-5-39, inclusive, are at all times handled in the best interests of the state. Source: SL 1971, ch 27, §15; SL 2015, ch 35, §1.
SD Codified L § 4-5-29.1 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-29.1 - Health care trust fund--Investment officer to calculate amount eligible for distribution--Transfer to state general fund.

4-5-29.1. Health care trust fund--Investment officer to calculate amount eligible for distribution--Transfer to state general fund.Pursuant to S.D. Const., Art. XII, §5, the state investment officer shall determine the market value of the health care trust fund as of December 31, 2003, and each calendar year thereafter less the investment expenses transferred pursuant to §4-5-30. The state investment officer shall calculate an amount equal to four percent of that market value, without invading principal, as eligible for distribution. For the purpose of this section, the term, principal, means the sum of all contributions to the fund. Beginning with the distribution in fiscal year 2008, the market value shall be determined by adding the market value of the trust fund at the end of the sixteen most recent calendar quarters as of December thirty-first, and dividing the sum by sixteen. Upon notice of that amount by the state investment officer, the state treasurer shall transfer the amount from the health care trust fund to the state general fund as soon as practicable after July first of the next fiscal year. Source: SL 2002, ch 26, §3; SL 2004, ch 62, §1; SL 2006, ch 23, §1.
SD Codified L § 4-5-29.2 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-29.2 - Education enhancement trust fund--Calculation of amount eligible for distribution--Transfer to general fund--Postsecondary scholarship grant programs.

4-5-29.2. Education enhancement trust fund--Calculation of amount eligible for distribution--Transfer to general fund--Postsecondary scholarship grant programs.Pursuant to S.D. Const., Art. XII, §6, the state investment officer shall determine the market value of the education enhancement trust fund as of December 31, 2003, and each calendar year thereafter less the investment expenses transferred pursuant to §4-5-30. The state investment officer shall calculate an amount equal to four percent of that market value, without invading principal, as eligible for distribution. For the purpose of this section, the term, principal, means the sum of all contributions to the fund. Beginning with the distribution in fiscal year 2008, the market value shall be determined by adding the market value of the trust fund at the end of the sixteen most recent calendar quarters as of December thirty-first, and dividing the sum by sixteen. Upon notice of that amount by the state investment officer, the state treasurer shall transfer the amount from the education enhancement trust fund to the state general fund as soon as practicable after July first of the next fiscal year. For fiscal year 2017, the portion of the transfer to the general fund for the postsecondary scholarship grant programs shall be $126,707.35. Beginning in fiscal year 2018, the portion of the transfer to the general fund for the postsecondary scholarship grant programs, shall be calculated by the state investment officer based on the relative share of the contributions made to the postsecondary scholarship grant fund created pursuant to §13-55A-14 to the most recently calculated total fair value of the education enhancement fund including the contribution. The calculation shall be updated monthly to reflect any additional contributions to the education enhancement trust fund and the portion of the transfer to the general fund for the postsecondary scholarship grant programs shall be based on the average of the monthly calculation as of December thirty-first, using the months available for the first forty-eight months and then the most recent forty-eight calendar months thereafter. Source: SL 2002, ch 26, §4; SL 2004, ch 62, §2, eff. Mar. 3, 2004; SL 2006, ch 23, §2, eff. Mar. 10, 2006; SL 2013, ch 91, §11, eff. Mar. 20, 2013; SL 2013, ch 92, §13, eff. Mar. 12, 2013; SL 2016, ch 101, §2, eff. Mar. 22, 2016.
SD Codified L § 4-5-29.3 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-29.3 - Indemnity provision--Authorization.

  4-5-29.3  .  Indemnity provision--Authorization.   Notwithstanding the provisions of §  3-21-13  , the state investment officer may include an indemnity provision in any contract, agreement, or court document related to an investment that involves custody, management, purchase, sale, exchange, or research if the state investment officer determines the inclusion of the indemnity provision is prudent under the circumstances.     Source:  SL 2020, ch 21, § 1.