The State Investment Council is exempt from any statutory or common law obligations that conflict with actions taken in compliance with §§ 4-5-48 to 4-5-59, inclusive, including all good faith determinations regarding companies as required by §§ 4-5-48 to 4-5-59, inclusive, including any obligations regarding the choice of asset managers, investment funds, or investments for the State Investment Council’s securities portfolios.

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Terms Used In South Dakota Codified Laws 4-5-60

  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.

Source: SL 2010, ch 27, § 13.