2006 South Dakota Code - 3-12-74 — Deduction of delinquent contributions from payments due from state--Interestcharged.

     3-12-74.   Deduction of delinquent contributions from payments due from state--Interest charged. In the event any participating unit becomes delinquent thirty or more days by failure or refusal to pay any amounts due the system, the state treasurer is hereby authorized and directed, upon certification by the administrator of such delinquency, to withhold and deduct the amount of such delinquency plus interest at the rate of two times the effective rate of interest from the next succeeding payment or payments of any money in the hands of the state treasurer due and payable to said participating unit.

Source: SL 1959, ch 84, § 30; SDC Supp 1960, § 15.3934 (2); SL 1967, ch 50, § 5; SDCL, § 13-45- 38; SL 1970, ch 25, § 13; SDCL Supp, § 3-12-23.1; SL 1974, ch 35, § 32.