South Dakota Codified Laws 43-25-22. Mortgage or conveyance of real estate by unincorporated association–Adoption ofresolution, notice–Execution of instrument
Any unincorporated religious, benevolent, fraternal, charitable, or educational association may mortgage or convey any real estate which is owned by such association by adopting a resolution directing such mortgage or conveyance, which mortgage or conveyance shall be executed by a majority of the board of trustees or directors, or by the presiding officer, and shall be attested by the secretary of the association; provided, however, that any such resolution may be adopted at a regular meeting of such association, or a special meeting called for such purpose, and that notice of such proposed action shall be published in a newspaper of general circulation in the community in which such association has its place of meeting, once each week for two successive weeks prior to such meeting.
Terms Used In South Dakota Codified Laws 43-25-22
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
Source: SL 1943, ch 22; SL 1947, ch 32; SDC Supp 1960, § 11.1304; SL 1970, ch 248, § 1.