South Dakota Codified Laws 9-22-6.2. Domestic federal credit union as official depository–Requirement
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Any domestic federal credit union chartered by the United States is a qualified public depository for municipal funds if such funds are invested in accounts which are insured by the National Credit Union Administration.
Terms Used In South Dakota Codified Laws 9-22-6.2
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
Source: SL 1987, ch 71, § 2.