10-40-9.   Taxation of property held jointly by husband and wife. Whenever any property, real or personal, including bonds and deposits in banks, depositories and other institutions, is held in joint tenancy or joint names of a husband or wife so that upon the death of one of them the survivor has a right to the immediate ownership or possession and enjoyment of the whole property, the accrual of such right by the death of one of them shall be deemed a transfer taxable under the provisions of this chapter of one half the value of the whole property.

Source: SDC 1939, § 57.2101 (8) (a) as added by SL 1959, ch 436.

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