South Dakota Administrative Rules
Title 61 - Department of Public Safety
Article 61:24 - VEHICLE DEALER LICENSING
Chapter 61:24:06 - Dealer bond pool
Section 61:24:06:03 - Escrow or trust agreement contents

(1)That the escrow agent or trustee pay claims within 45 days after presentation of any final judgment or execution order involving claims that arose while the vehicle dealer was a participant in the pool;

(2)That the escrow agent or trustee file with the department at least 30 days before the end of each calendar year a report listing all of the participating vehicle dealers and license numbers;

(3)That the escrow agent or trustee report quarterly to the department any vehicle dealers added or deleted from the bond pool;

(4)That the escrow agent or trustee file with the department at least 30 days before the end of each calendar year a financial report concerning the bond pool; and

(5)That all pooled assets be deposited only in a federally insured account of the financial institution or invested in the securities stated in SDCL 4-5-6.

For purposes of this section, a final judgment is a judgment rendered by a court of competent jurisdiction after all avenues of appeal have been exhausted or time to file an appeal has elapsed.