67:10:04:07Exclusion of funds owned by dependent child.
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
The department excludes the first $1,000 of the cumulative balance of a dependent child's savings account, checking account, bonds, or certificates of deposits if all of the following conditions are met: (1) The excluded funds are owned solely by the dependent child or jointly with the caretaker or another adult relative; (2) The child is at least a half-time student; (3) The child is employed at least part-time or has been employed at least part-time in the preceding 12 months; and (4) A portion of the account was derived from the child's earnings.
Source: 24 SDR 24, effective August 31, 1997.