South Dakota § 5-18C-3 - Public sale or auction--Performance bond--Competitive quotations--Records to be retained.
Full text of South Dakota South Dakota Codified Laws § 5-18C-3 — Public sale or auction--Performance bond--Competitive quotations--Records to be retained., with citation guidance and answers to common questions.
§ 5-18C-3. Public sale or auction--Performance bond--Competitive quotations--Records to be retained.
The governing board of a unit of local government shall be exempted from the provisions of this chapter and chapters 5-18A, 5-18B, and 5-18D if it is able to purchase supplies at a substantial savings at a public sale or auction. Any performance bond required by § 5-21-1 may be waived on items purchased for less than ten thousand dollars at a public sale or auction. The governing board shall contact and attempt to obtain competitive quotations from at least three suppliers of identical or similar supplies. The board may authorize an agent to attend a sale or auction and expend an amount not in excess of eighty percent of the average of the quotations received. A record of the names of the suppliers, the quotations received, and the procurement procedures used in purchasing shall be documented, noted in the minutes, and retained on file by the governing board.
Source: SL 2010, ch 31, § 87.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 5-18C-3
What does South Dakota Codified Laws § 5-18C-3 cover?
Section 5-18C-3 ("Public sale or auction--Performance bond--Competitive quotations--Records to be retained.") 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 § 5-18C-3?
A common citation format is "South Dakota Codified Laws § 5-18C-3" (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 § 5-18C-3 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.