S.D. Codified Laws § 5-2-2.1
This is the official text of S.D. Codified Laws § 5-2-2.1, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Sale of realty by Board of Regents--Deposit, crediting, and investment of proceeds
Official statutory text
The Board of Regents may sell extraneous real property subject to the provisions of the Constitution and approval of the Legislature.
The proceeds from a sale of institutional endowment lands shall be deposited as provided in chapter 5-3 and the proceeds of other extraneous real property, net of any costs associated with the sale of the land, including in the case of a sale comprising both endowment lands and other extraneous real property, costs allocable to the sale of endowment lands, shall be deposited with the state treasurer and credited to a fund specifically designated as the real property acquisition and capital improvement fund for each institution under the Board of Regents involved in such transaction. The proceeds shall be invested by the State Investment Council in accordance with chapter 4-5 . Expenditures from the fund shall be approved by the Legislature.
Source: SL 1976, ch 7, § 1; SL 1982, ch 256, § 3; SL 1989, ch 20, § 52; SL 1989, ch 49, § 1; SL 1990, ch 30, § 18; SL 2011, ch 29, § 6; SL 2011, ch 30, § 5; SL 2018, ch 111, § 7, eff. Feb. 8, 2018.
The proceeds from a sale of institutional endowment lands shall be deposited as provided in chapter 5-3 and the proceeds of other extraneous real property, net of any costs associated with the sale of the land, including in the case of a sale comprising both endowment lands and other extraneous real property, costs allocable to the sale of endowment lands, shall be deposited with the state treasurer and credited to a fund specifically designated as the real property acquisition and capital improvement fund for each institution under the Board of Regents involved in such transaction. The proceeds shall be invested by the State Investment Council in accordance with chapter 4-5 . Expenditures from the fund shall be approved by the Legislature.
Source: SL 1976, ch 7, § 1; SL 1982, ch 256, § 3; SL 1989, ch 20, § 52; SL 1989, ch 49, § 1; SL 1990, ch 30, § 18; SL 2011, ch 29, § 6; SL 2011, ch 30, § 5; SL 2018, ch 111, § 7, eff. Feb. 8, 2018.
Status: in_force · Read it on the official government site
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