S.D. Codified Laws § 10-50B-19

Current through the 2024 Legislative Session

Section 10-50B-19 - State directory-Manufacturers-Surety bond-Amount

Before being listed in the state directory of manufacturers and brands permitted to be sold, any tobacco product manufacturer required to place a deposit into a qualified escrow fund pursuant to subdivision 10-50B-7 (2) shall provide a surety bond to the attorney general at least ten days before the beginning of each calendar quarter. The amount of the bond shall be the greater of:

(1) The largest required deposit into a qualified escrow fund by the tobacco product manufacturer or the tobacco product manufacturer's predecessor for any of the twelve preceding calendar quarters; or

(2) Twenty-five thousand dollars.

SDCL 10-50B-19

SL 2020, ch 36, § 2.

Added by S.L. 2020, ch. 36,s. 2, eff. 7/1/2020.