ARSD 67:10:04:07. Exclusion of funds owned by dependent child

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.