Upon receipt of assessment payments under § 4-6A-14, the Public Deposit Protection Commission shall reimburse the public depositors of the qualified public depository in which the loss occurred to the extent of the depository's net deposit liability to them.
S.D. Codified Laws § 4-6A-15
Reimbursement of public depositors from proceeds of assessments
Known as the Public Deposit Insurance Act
The act spans §§ 4–4 (21 sections).
Source: SL 1974, ch 39, § 9 (5); SL 1986, ch 44, § 10.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.