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2017 South Dakota Codified Laws
Title 10 - TAXATION
Chapter 46 - Use Tax
§ 10-46-25 Securities deposited by retailer in lieu of bond.
Universal Citation: SD Codified L § 10-46-25 (2017)
10-46-25. Securities deposited by retailer in lieu of bond. In lieu of such bond, securities approved by the secretary of revenue, in such amount as he may prescribe, may be deposited with him, which securities shall be kept in the custody of the secretary of revenue and may be sold by him at public or private sale, without notice to the depositor thereof, if it becomes necessary to do so in order to recover any tax or penalties due. Upon any such sale, the surplus, if any, above the amounts due under this chapter shall be returned to the person who deposited the securities.
Source: SL 1939, ch 276, § 13; SDC Supp 1960, § 57.4312; SL 2003, ch 272 (Ex. Ord. 03-1), § 82; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011.
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