Section 50-7-16 - Interest on amounts advanced by state. - South Dakota Statutes

50-7-16. Interest on amounts advanced by state. The commission shall charge a municipality simple interest at the Category A rate of interest established in § 54-3-16 on the amount of money subject to reimbursement under § 50-7-15 from the date of the expenditure to the date of payment.

Source: SL 1966, ch 4; SL 1992, ch 60, § 2; SL 1997, ch 16, § 16; SL 1997, ch 269, § 1.