A commission shall have further power to invest any funds held in reserves or debt service funds, or any funds not required for immediate disbursement, in property or securities in which savings banks may legally invest funds subject to their control.
S.D. Codified Laws § 11-7-31
Power to invest reserve and debt service funds
Known as the County and Municipal Housing and Redevelopment Law
The act spans §§ 11–11 (112 sections).
Source: SL 1950 (SS), ch 13, § 7, subdiv 3 (6); SDC Supp 1960, § 45.3607 (3) (f).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.