South Dakota § 6-8B-54 - Securities purchased for debt service fund limited.
Full text of South Dakota South Dakota Codified Laws § 6-8B-54 — Securities purchased for debt service fund limited., with citation guidance and answers to common questions.
§ 6-8B-54. Securities purchased for debt service fund limited.
Securities purchased for the debt service fund shall be limited to:
(1) General obligations of the United States, securities whose principal and interest payments are guaranteed by the United States, and securities issued by the following agencies of the United States: banks for cooperatives, federal home loan banks, federal intermediate credit banks, federal land banks, and the federal national mortgage association; or
(2) Obligations issued or guaranteed by any state or any political subdivision of a state, which at the date of purchase are rated the highest or the next highest rating given by Standard and Poor's Corporation, Moody's Investors Service, or a similar nationally recognized rating agency, but not less than the rating on the refunded bonds immediately prior to the refunding.
Source: SL 1987, ch 66, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 6-8B-54
What does South Dakota Codified Laws § 6-8B-54 cover?
Section 6-8B-54 ("Securities purchased for debt service fund limited.") 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 § 6-8B-54?
A common citation format is "South Dakota Codified Laws § 6-8B-54" (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 § 6-8B-54 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.