Section 5-10-1 - Assignment of receipts from leases, interest, and land sales to income and permanentfunds. - South Dakota Statutes

5-10-1. Assignment of receipts from leases, interest, and land sales to income and permanent funds. The income from the leased lands of each class of school and public lands and the interest on the permanent fund of that class shall be assigned by the state treasurer to a fund to be known as the interest and income fund of such class. The principal of money derived from the sale of each class of lands granted to the state for educational and charitable purposes shall be assigned by the state treasurer to a fund to be known as the permanent fund of such class.

Source: SL 1911, ch 224, § 39; RC 1919, § 5663; SDC 1939, § 15.0601; SL 1957, ch 45.