There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 55-14-5 — Delegation of investment authority by governing board--Investment advisors.
55-14-5. Delegation of investment authority by governing board--Investment advisors. Except as otherwise provided by the applicable gift instrument or by applicable law relating to governmental institutions or funds, the governing board may:
(1) Delegate to its committees, officers,
or employees of the institution or the fund, or agents, including
investment counsel, the authority to act in place of the board in
investment and reinvestment of institutional funds;
(2) Contract with independent investment
advisors, investment counsel or managers, banks, or trust
companies, so to act; and
(3) Authorize the payment of compensation
for investment advisory or management services.
Source: SL 2000, ch 230, § 5.
Source: SL 2000, ch 230, § 5.
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