reglab/housing_qa huggingface dataset:
SD Codified L § 4-5-30 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-30 - Pooling of cash accounts--Certification by Appropriations Committee--Prorating of income--Transfer of money to investment council expense account.

4-5-30. Pooling of cash accounts--Certification by Appropriations Committee--Prorating of income--Transfer of money to investment council expense account.The state investment officer, utilizing the facilities of the state budgetary accounting system, shall pool cash accounts within the funds enumerated in §4-5-23. The Appropriations Committee of the Legislature, upon recommendations from the commissioner of finance and management, shall certify those funds which are to participate in the interest income of the pooled investments. The state investment officer shall credit the gain or interest due as a result of investments made pursuant to §4-5-29 on a pro rata basis to the participating funds in the same ratio as the average daily cash balance of each fund bears to the total average cash balance of all funds.If requested by the state investment officer during each fiscal year, the state treasurer shall transfer money from the South Dakota retirement fund, health care trust fund, education enhancement trust fund, the trust fund derived from the sale of state cement enterprises, the general fund portion of the pooled income account for the permanent school and other educational fund provided for in S.D. Const., Art. VIII, and any other specific fund approved by the Bureau of Finance and Management, other than the state pooled fund, to the investment council expense account in an amount not to exceed the ratio of the average assets in each fund for the previous fiscal year to the total average assets managed by the investment council, other than the state pooled fund, for the previous fiscal year multiplied by the difference between the budget of the investment council for each fiscal year and the total of the current fiscal year beginning cash balance in the investment council expense account plus two hundredths of a percent of the prior fiscal year's average assets in the state pooled fund. If requested by the state investment officer during each fiscal year, the state treasurer shall transfer money from the pooled income account to the investment council expense account in an amount not to exceed two hundredths of a percent of the prior fiscal year's average assets in the state pooled fund. The state investment officer may make multiple transfer requests during the fiscal year, with each request being proportionate among the funds, provided that the total transfers do not exceed the amounts provided by this section. Source: SL 1971, ch 27, §16; SL 1976, ch 50; SL 1977, ch 35, §1; SL 1978, ch 36, §1; SL 1986, ch 49; SL 1987, ch 44, §1; SL 1998, ch 25, §1; SL 2002, ch 26, §1; SL 2015, ch 36, §1.
SD Codified L § 4-5-31 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-31 - Physical custody of securities purchased--Deposit with fiscal agent.

4-5-31. Physical custody of securities purchased--Deposit with fiscal agent.All securities purchased shall be in the physical custody of the state treasurer who may, with the approval of the State Investment Council, deposit with a fiscal agent the securities as he shall consider advisable to be held in safekeeping by said agent for collection of principal and interest. Source: SL 1971, ch 27, §23.
SD Codified L § 4-5-32 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-32 - Monthly report to investment council--Contents--Public inspection.

4-5-32. Monthly report to investment council--Contents--Public inspection.Not later than fifteen days after the close of each month, the state investment officer shall submit to the State Investment Council a report of the operations of the Division of Investments during the month. Each report shall include a detailed summary of investment, reinvestment, purchase, sale, and exchange transactions, setting forth, among other things, the investments bought, sold, and exchanged, the dates thereof, the prices paid and obtained, the names of the brokers involved, and a statement of the funds or accounts referred to herein. The reports shall be open for inspection to the public. Source: SL 1971, ch 27, §24.
SD Codified L § 4-5-33 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-33 - Meetings of investment council--Access to records--Inspection and review.

4-5-33. Meetings of investment council--Access to records--Inspection and review.The State Investment Council shall meet at times as it shall deem necessary to carry out the provisions of §§4-5-12 to 4-5-39, inclusive, but at least quarterly during the year, to consult with the state investment officer with respect to the work of the Division of Investment. It shall have access to all files and records of the division and may require any officer or employee therein to provide information as it may deem necessary in the performance of its functions. The State Investment Council shall inspect and review the respective funds and accounts administered through the division. Source: SL 1971, ch 27, §18.
SD Codified L § 4-5-34 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-34 - Proceedings to collect principal or interest on investments--Refunding of securities held.

4-5-34. Proceedings to collect principal or interest on investments--Refunding of securities held.In the event of default in the payment of principal of, or interest on, any investment made, the investment council is authorized to institute the proper proceedings to collect the matured principal or interest and may accept for exchange purposes refunding bonds or other evidences of indebtedness at interest rates to be agreed upon with the obligor. Source: SL 1971, ch 27, §19.
SD Codified L § 4-5-35 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-35 - Post-audit of investment transactions--Annual report of auditor-general.

4-5-35. Post-audit of investment transactions--Annual report of auditor-general.The state auditor-general shall be responsible for conducting a continuous post-audit of the investment transactions of the state, and shall submit annually a special report on his findings to the State Investment Council and to the appropriate legislative committee. Source: SL 1971, ch 27, §25.
SD Codified L § 4-5-36 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-36 - Reports to Legislature by investment council.

4-5-36. Reports to Legislature by investment council.On or before February first of each year, and at other times as it may deem in the public interest, the State Investment Council shall report to the Legislature with respect to its review of the work of the Division of Investment. Source: SL 1971, ch 27, §26.
SD Codified L § 4-5-37 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-37 - Conflicts with other laws.

4-5-37. Conflicts with other laws.To the extent that the provisions of §§4-5-12 to 4-5-39, inclusive, are inconsistent with the provisions of any other law, the provisions of said sections shall be controlling. Source: SL 1971, ch 27, §27.
SD Codified L § 4-5-38 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-38 - Severability of provisions.

4-5-38. Severability of provisions.If any part of §§4-5-12 to 4-5-39, inclusive, is invalid, all valid parts that are severable from the invalid part remain in effect. If a part of said sections is invalid in one or more of its applications, the part remains in effect in all valid applications that are severable from the invalid applications. Source: SL 1971, ch 27, §28.
SD Codified L § 4-5-39 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-39 - Short title.

4-5-39. Short title.Sections 4-5-12 to 4-5-39, inclusive, may be cited as the "Investment of State Funds Law." Source: SL 1971, ch 27, §29.
SD Codified L § 4-5-40 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-40 - Agreement to purchase general obligation funding bonds--Certification and approval required--Bonds to bear interest, mature, etc.

4-5-40. Agreement to purchase general obligation funding bonds--Certification and approval required--Bonds to bear interest, mature, etc..Notwithstanding the provisions of §§4-5-23, 4-5-29, and 4-5-37, upon receipt of the certification of the Health and Educational Facilities Authority as described in §4-5-41 and receipt of evidence that the Governor has not disapproved of the investment as contemplated by Article VIII, §12 of the Constitution, the State Investment Council, acting by and through the state investment officer, shall enter into a contingent purchase agreement, bond purchase agreement, or similar instrument or arrangement pursuant to which the State Investment Council shall be obligated to purchase, as an investment of the permanent school and other education funds of the State of South Dakota established pursuant to Article VIII, §11 of the Constitution, general obligation funding bonds to be issued by any eligible school district participating in a tax anticipation note program established by the Health and Educational Facilities Authority under §1-16A-75. Such bonds shall bear interest, mature, and contain such other terms and conditions as shall be approved by the Health and Educational Facilities Authority and as otherwise authorized by state law. Source: SL 1998, ch 24, §1.
SD Codified L § 4-5-41 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-41 - School district eligibility--Determination and certification.

4-5-41. School district eligibility--Determination and certification.A school district is an eligible school district for the purposes of §§4-5-40 to 4-5-44, inclusive, if the Health and Educational Facilities Authority determines and certifies to the State Investment Council and the Governor that the school district is:(1)Expected to have sufficient tax and other revenues in the applicable fiscal year sufficient to pay principal and interest when due on all promissory notes issued or to be issued by the school district in connection with any program established by the Health and Educational Facilities Authority pursuant to §1-16A-75; and(2)That the principal amount of any promissory notes issued by the school district in connection with such program does not exceed the principal amount of general obligation funding bonds that the district is, as of the date of certification, authorized to issue under §13-19-7 and Article XIII, §4 of the Constitution. Source: SL 1998, ch 24, §2.
SD Codified L § 4-5-42 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-42 - Prudent investment defined--Liability.

4-5-42. Prudent investment defined--Liability.The state investment officer and the State Investment Council is entitled to conclusively rely, without any duty or obligation for further inquiry, diligence, or investigation, upon the certification of the Health and Educational Facilities Authority as described in §4-5-41 and written evidence that the Governor has not disapproved the investment as described in §4-5-40. Any agreement or other arrangement entered into by the State Investment Council and state investment officer pursuant to §§4-5-40 to 4-5-44 shall be deemed a prudent investment in full compliance with the requirements of the Constitution and all statutes and applicable common law, including, without limitation, §§4-5-27 and 4-5-29. No personal liability adheres to the state investment officer or the State Investment Council by reason of the agreement or arrangement. Source: SL 1998, ch 24, §3.
SD Codified L § 4-5-43 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-43 - Obligation to purchase--Enforceability.

4-5-43. Obligation to purchase--Enforceability.The obligation of the State Investment Council to purchase any general obligation funding bonds pursuant to any agreement or arrangement described in §4-5-40 is not enforceable to the extent that the principal amount of such general obligation funding bonds would cause an eligible participating school district to be in violation of the limitations on indebtedness of school districts provided for in Article XIII, §4 of the Constitution. Source: SL 1998, ch 24, §4.
SD Codified L § 4-5-44 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-44 - Cost of participation.

4-5-44. Cost of participation.The participation of the State Investment Council and the state investment officer in the tax anticipation note program of the Health and Educational Facilities Authority established under §1-16A-75 is hereby determined to be in the public interest and for the benefit and maintenance of the public schools and for the equal benefit of and in the best interest of the people of the state and shall be at no cost to the school districts, the Health and Educational Facilities Authority or any other participant of the program. Source: SL 1998, ch 24, §5.
SD Codified L § 4-5-47 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-47 - Investment of trust fund containing proceeds from sale of state cement enterprises.

4-5-47. Investment of trust fund containing proceeds from sale of state cement enterprises.The State Investment Council as provided in §4-5-12 is responsible for the investment of the trust fund containing the net proceeds from the sale of state cement enterprises. The investment of such funds is not restricted by the provisions of §4-5-26, but is governed by the provisions of §4-5-27. Source: SL 2001, ch 25, §3; SDCL §5-17-42; SL 2010, ch 32, §8.
SD Codified L § 4-5-48 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-48 - Definition of terms related to investments in companies liable under Iran Sanctions Act.

4-5-48. Definition of terms related to investments in companies liable under Iran Sanctions Act.Terms used in §§4-5-48 to 4-5-60, inclusive, mean:(1)"Active business operations," all business operations that are not inactive business operations;(2)"Company," any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association, including all wholly owned subsidiaries, majority-owned subsidiaries, parent companies, or affiliates of such entities or business associations, that exists for profit-making purposes;(3)"Direct holdings," all publicly traded debt and equity securities of a company that are held directly by the State Investment Council or held in an account or fund in which the State Investment Council owns all shares or interests;(4)"Government of Iran," the government of the Islamic Republic of Iran or its instrumentalities or political subdivisions and companies owned or controlled by the Islamic Republic of Iran;(5)"Inactive business operations," the continued holding or renewal of rights to property previously operated for the purpose of generating revenues but not presently deployed for such a purpose;(6)"Indirect holdings," all investments held in an account or fund, including a mutual fund, a real estate fund, a private equity fund, or a commingled fund, managed by one or more persons who are not employed by the State Investment Council, in which the public funds own shares or interests together with other investors who are not subject to §§4-5-48 to 4-5-60, inclusive;(7)"Scrutinized company," any company engaging in scrutinized business operations;(8)"Scrutinized business operations," all active business operations that are subject or liable to sanctions under Public Law 104-172, as amended, the Iran Sanctions Act of 1996, and that involve the maintenance of a company's existing assets or investments in Iran, or the deployment of new investments to Iran that meet or exceed the twenty million dollar threshold referred to in Public Law 104-172, as amended, the Iran Sanctions Act of 1996. The term does not include the retail sale of gasoline and related products;(9)"Substantial action specific to Iran," adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within one year and to refrain from any such new business operations. Source: SL 2010, ch 27, §1.
SD Codified L § 4-5-49 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-49 - Identification of holdings in scrutinized companies.

4-5-49. Identification of holdings in scrutinized companies.Within ninety days following July 1, 2010, the State Investment Council shall make its best efforts to identify all scrutinized companies in which it has direct holdings. These efforts shall include, as appropriate:(1)Reviewing and relying, as appropriate, on publicly available information regarding companies with business operations in Iran, including information provided by nonprofit organizations, research firms, international organizations, and government entities;(2)Contacting asset managers contracting with the State Investment Council who invest in companies with business operations in Iran; and(3)Contacting other institutional investors that have divested from or engaged with companies with business operations in Iran. Source: SL 2010, ch 27, §2.
SD Codified L § 4-5-50 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-50 - List of scrutinized companies.

4-5-50. List of scrutinized companies.At the first meeting of the State Investment Council after it has completed the requirements of §4-5-49, the State Investment Council shall assemble a list of scrutinized companies in which it has direct holdings. Source: SL 2010, ch 27, §3.
SD Codified L § 4-5-51 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-51 - Updating scrutinized companies list.

4-5-51. Updating scrutinized companies list.The State Investment Council shall update the scrutinized companies list each quarter based on continuing information. Source: SL 2010, ch 27, §4.
SD Codified L § 4-5-52 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-52 - Procedures with respect to companies on scrutinized companies list.

4-5-52. Procedures with respect to companies on scrutinized companies list.The State Investment Council shall use the following procedures with respect to companies on the scrutinized companies list:(1)For each company newly identified with scrutinized business operations, the State Investment Council shall, within ninety days following its assembly of the scrutinized companies list, send a written notice informing the company of its scrutinized company status and that it may become subject to divestment by the State Investment Council. The notice shall offer the company the opportunity to clarify its scrutinized business operations and shall encourage the company to cease, within ninety days of the date of the notice, its scrutinized business operations, or to convert them to inactive business operations in order to avoid divestment by the State Investment Council; and(2)If, within ninety days following the State Investment Council's first engagement with a company, that company publicly announces its commitment to substantial action specific to Iran, that company shall be removed from the scrutinized companies list and the provisions of §§4-5-48 to 4-5-60, inclusive, cease to apply to it unless it resumes active business operations in Iran. Source: SL 2010, ch 27, §5.
SD Codified L § 4-5-53 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-53 - Divestiture of securities in companies with scrutinized business operations.

4-5-53. Divestiture of securities in companies with scrutinized business operations.If, after ninety days following the State Investment Council's first engagement with a company pursuant to §4-5-52, the company continues to have scrutinized business operations, and only while the company continues to have scrutinized business operations, the State Investment Council shall sell, redeem, divest, or withdraw all publicly traded securities of the company, according to the following schedule:(1)At least fifty percent of the holdings in the company shall be removed from the State Investment Council's assets under management by nine months after the company's initial appearance on the scrutinized companies list; and(2)One hundred percent of the holdings in the company shall be removed from the State Investment Council's assets under management within fifteen months after the company's initial appearance on the scrutinized companies list.If a company that ceased scrutinized business operations following engagement pursuant to §4-5-52, resumes such operations, §§4-5-48 to 4-5-60, inclusive, immediately applies to the company and the State Investment Council shall send a written notice to the company. The company shall also be immediately reintroduced onto the scrutinized companies list. Source: SL 2010, ch 27, §6.
SD Codified L § 4-5-54 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-54 - Acquisition of securities in companies with scrutinized business operations prohibited.

4-5-54. Acquisition of securities in companies with scrutinized business operations prohibited.The State Investment Council may not acquire securities of companies on the scrutinized companies list that have scrutinized business operations, except as provided in §§4-5-48 to 4-5-60, inclusive. Source: SL 2010, ch 27, §7.
SD Codified L § 4-5-55 (2021)
2021 South Dakota Codified Laws|Title 4 - Public Fiscal Administration|Chapter 05 - Custody And Investment Of State Funds|Section 4-5-55 - Exemption from divestiture requirements.

4-5-55. Exemption from divestiture requirements.If the federal government excludes a company from its present or any future federal sanctions relating to Iran, that company is exempt from the divestment requirements and the investment prohibitions in §§4-5-48 to 4-5-60, inclusive. Source: SL 2010, ch 27, §8.