§ 113.46 MANAGEMENT OF MUNICIPAL LIQUOR LICENSES.
   (A)   The governing body shall operate and conduct the municipal liquor establishment and if necessary, shall set the prices to be charged on all sales of liquor.
   (B)   Gross receipts are to be submitted to the municipal finance officer and disbursements from the fund shall only be made with presentation of verified vouchers.
   (C)   The municipality shall keep a separate accounting of all transactions involving purchases, sales and inventories conducted under each license.
   (D)   A municipality that holds an off-sale license pursuant to § 113.15(A)(5) is eligible for a license under § 113.15(A)(16) or (17) and any municipality holding a license under SDCL Chapter 35-4 is eligible for a retailer’s license under SDCL § 113.15(A)(17).
   (E)   Upon termination of the license, the governing board shall liquidate the business operated and the assets of the business in such a manner as may be determined by resolution, and is consistent with law.