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, the district treasurer shall endorse on the warrant "Not paid for want of funds," the date, and the treasurer's 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; SL 2011, ch 165, §413.