State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-07 > Statute-58-7-5

58-7-5. Ineligibility for deposit of securities in default. If default occurs in the payment of interest or principal of any deposited security and such default continues for a period of one hundred twenty days, the director may declare such security no longer eligible for deposit under § 58-7-1.

Source: SL 1966, ch 111, ch 7, § 1 (5).

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-07 > Statute-58-7-5

58-7-5. Ineligibility for deposit of securities in default. If default occurs in the payment of interest or principal of any deposited security and such default continues for a period of one hundred twenty days, the director may declare such security no longer eligible for deposit under § 58-7-1.

Source: SL 1966, ch 111, ch 7, § 1 (5).