Section 46A-6-48 - Insufficient funds for payment of warrants--Endorsement of district treasurer--Interest.
46A-6-48. Insufficient funds for payment of warrants--Endorsement of district treasurer--Interest. If the district treasurer does not have sufficient money on hand to pay any warrant when it is presented for payment, he shall endorse thereon "Not paid for want of funds," the date and his signature. From the time of presentation until paid, the warrant shall draw interest at a rate to be negotiated by the parties.
Source: SDC 1939, § 61.0920; SDCL, § 46-14-47; SL 1983, ch 28, § 56.