50:01:02:27Contracting officer.

The fund custodian is the contracting officer for the unappropriated fund; however, a designated purchasing or contracting officer may be appointed as agent of the custodian for the purpose of negotiating, awarding, and administering any contract or procurement transaction. The fund may not incur an obligation in an amount which exceeds the current financial resources of the fund without specific approval of the adjutant general.

Source: SL 1975, ch 16, § 1; 12 SDR 151, 12 SDR 154, effective July 1, 1986.