Section 40-21-16 - Separate fund for sale proceeds of undetermined ownership held by board--Period forwhich held--Payment to owner on proof of ownership. - South-dakota Statutes

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40-21-16. Separate fund for sale proceeds of undetermined ownership held by board--Period for which held--Payment to owner on proof of ownership. Any funds held by the board from the sale of livestock of undetermined ownership shall be placed into a separate interest bearing fund. Such funds shall be kept for a period of time not to exceed one year. If proof of ownership is made, satisfactory to the board within one year, all proceeds less authorized deductions shall be paid to the owner.

Source: SL 1943, ch 142, § 11; SL 1949, ch 144, § 4; SDC Supp 1960, § 40.12A06; SL 1967, ch 165; SL 1988, ch 328, § 91.

State Codes and Statutes

Statutes > South-dakota > Title-40 > Chapter-21 > Statute-40-21-16

40-21-16. Separate fund for sale proceeds of undetermined ownership held by board--Period for which held--Payment to owner on proof of ownership. Any funds held by the board from the sale of livestock of undetermined ownership shall be placed into a separate interest bearing fund. Such funds shall be kept for a period of time not to exceed one year. If proof of ownership is made, satisfactory to the board within one year, all proceeds less authorized deductions shall be paid to the owner.

Source: SL 1943, ch 142, § 11; SL 1949, ch 144, § 4; SDC Supp 1960, § 40.12A06; SL 1967, ch 165; SL 1988, ch 328, § 91.

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State Codes and Statutes

Statutes > South-dakota > Title-40 > Chapter-21 > Statute-40-21-16

40-21-16. Separate fund for sale proceeds of undetermined ownership held by board--Period for which held--Payment to owner on proof of ownership. Any funds held by the board from the sale of livestock of undetermined ownership shall be placed into a separate interest bearing fund. Such funds shall be kept for a period of time not to exceed one year. If proof of ownership is made, satisfactory to the board within one year, all proceeds less authorized deductions shall be paid to the owner.

Source: SL 1943, ch 142, § 11; SL 1949, ch 144, § 4; SDC Supp 1960, § 40.12A06; SL 1967, ch 165; SL 1988, ch 328, § 91.