06:01:01:04Petition for declaratory ruling.

A person described in SDCL 1-26-15 may file a petition with the State Investment Council requesting a declaratory ruling on the applicability of a statutory provision administered by the council or of a rule or order made by the council. The petition must be in writing and contain the facts necessary to inform the council of the nature of the ruling requested. Upon receipt of the petition, the council may request of the petitioner any additional information necessary for the council to issue its ruling. Within thirty days following the receipt of the petition, or within thirty days following receipt of any additional requested information, the council shall issue its declaratory ruling and serve a copy of the ruling by mail upon the petitioner.

Source: 50 SDR 12, effective August 8, 2023.