South Dakota § 3-12C-108 - Effective rate of interest defined.
Full text of South Dakota South Dakota Codified Laws § 3-12C-108 — Effective rate of interest defined., with citation guidance and answers to common questions.
§ 3-12C-108. Effective rate of interest defined.
For purposes of this chapter, "effective rate of interest" means the interest at an annually compounded rate to be established by the board for each fiscal year. The rate may be no greater than ninety percent of the average ninety-one day United States treasury bill rate for the immediately preceding calendar year and in no event may the rate be more than the rate established by the board pursuant to § 3-12C-227, for investment return for purposes of the actuarial valuation. If a member withdraws contributions pursuant to § 3-12C-602 or 3-12C-604, or if benefits are payable under § 3-12C-409, the interest must be as annually compounded on the preceding June thirtieth.
Source: SL 2016, ch 32, § 54; SDCL § 3-12-47.8; SL 2019, ch 22, § 1; SL 2025, ch 27, § 8.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 3-12C-108
What does South Dakota Codified Laws § 3-12C-108 cover?
Section 3-12C-108 ("Effective rate of interest defined.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 3-12C-108?
A common citation format is "South Dakota Codified Laws § 3-12C-108" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 3-12C-108 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.