Section 46A-7A-146 - Deposit of district funds. - South Dakota Statutes

46A-7A-146. Deposit of district funds. All funds belonging to the district, other than funds deposited with trustees or fiscal agents for payment of the principal of and interest on bonds of the district, shall be deposited by the treasurer in any bank within the state, which bank shall be designated by the board. If no depository is designated, the treasurer shall select a bank as a depository for such funds. Deposit of such funds shall relieve the district treasurer from personal liability for loss of deposited funds through the insolvency or failure of the depository while funds are deposited therein.

Source: SL 1985, ch 360, § 146.