A plan manager shall establish and maintain a special account in a bank or trust company in this state for the deposit of any moneys received. A special account with a bank or trust company doing business in another state may be established upon approval by the commission.

Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:20:30, August 16, 1993.

General Authority: SDCL 36-21A-89 , 43-15B-6.

Law Implemented: SDCL 43-15B-3 , 43-15B-6.