Section 33-17A-23 - Investment of surplus funds by conservator--Prior order of court--Petition for orderto invest. - South Dakota Statutes

33-17A-23. Investment of surplus funds by conservator--Prior order of court--Petition for order to invest. Each conservator shall invest the surplus funds of the conservator's ward's estate in securities or property authorized under the laws of this state but only upon prior order of the court. However, the funds may be invested, without prior court authorization, in federally insured interest-bearing accounts, in direct unconditional interest-bearing obligations of this state or of the United States, and in obligations the interest and principal of which are unconditionally guaranteed by the United States. A signed duplicate or certified copy of the petition for authority to invest shall be furnished to the proper office of the United States Department of Veterans' Affairs, and notice of hearing on the petition shall be given to the office as provided in the case of hearing on a conservator's account.

Source: SDC 1939, § 35.1912; SL 1943, ch 136, § 13; SDC Supp 1960, § 35.1913; SL 1993, ch 213, § 196; SDCL § 30-33-23; SL 1995, ch 167, § 175; SL 2007, ch 187, § 195.