1-53-25. Deposit of trust assets with state treasurer--Purposes for which used. Notwithstanding any other provisions of law, funds and the proceeds of the trust assets which are not authorized to be administered by the secretary of agriculture of the United States under the provisions of § 1-53-24 shall be received by the commissioner of the Governor's Office of Economic Development under the application made pursuant to § 1-53-23 and by him deposited with the state treasurer for use by the commissioner of the Governor's Office of Economic Development for such of the rural rehabilitation purposes permissible under the charter of the now dissolved South Dakota Rural Rehabilitation Corporation as may from time to time be agreed upon by the commissioner of the Governor's Office of Economic Development with the approval of the Governor and the secretary of agriculture of the United States subject to the applicable provisions of said Public Law 499, or for the purposes of § 1-53-24.
Source: SL 1951, ch 4, § 4; SDC Supp 1960, § 4.0118; SDCL § 38-6-4; SL 2019, ch 235 (Ex. Ord. 19-1), § 44, eff. Apr. 14, 2019.
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