South Dakota Codified Laws 34-31A-32. Deposit in bank of district receipts–Warrants for disbursement
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All funds collected on behalf of the district through the levy of taxes; all donations, contributions, bequests, or annuities; and all borrowed money received by or on behalf of the district shall be deposited in state or national bank to the credit of the district fund and shall be drawn out only by warrant.
Terms Used In South Dakota Codified Laws 34-31A-32
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
Source: SL 1971, ch 208, §§ 7 (3), 9; SDCL Supp, § 34-31A-26.