Interest rate determination.
Effective Apr 14, 201945 SDR 31Source: 17 SDR 141, effective March 25, 1991; 45 SDR 31, effective September 13, 2018; SL 2019, ch 235, § 37 and 38, effective April 14, 2019. | General Authority: SDCL 1 -53-30 . | Law Implemented: SDCL 1-53-24, 1-53-29 .
Except as stated in § 12:07:12:18, the commissioner may change the rate of interest per annum according to the following procedure:
- (1) The commissioner shall request recommendations for an interest rate from the review committee and the administrator;
- (2) The commissioner shall request information on current market rates;
- (3) Within five working days, the commissioner shall set the standard interest rate.
Source: 17 SDR 141, effective March 25, 1991; 45 SDR 31, effective September 13, 2018; SL 2019, ch 235, § 37 and 38, effective April 14, 2019.
General Authority: SDCL 1 -53-30 .
Law Implemented: SDCL 1-53-24, 1-53-29 .
Prior versions effective: 2018-09-13, 1991-03-25.