South Dakota Codified Laws 47-29-11. Power of corporation to hold real estate–Maximum holdings–Platting and sale oflots
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Every cemetery corporation has power to purchase or take by gift, grant, or devise, or to hold real property not exceeding one hundred sixty acres for the sole use and purpose of a burial ground and to lay out the same into lots, with convenient avenues and walks, and to sell the lots for the sole use and purpose of burying the dead.
Terms Used In South Dakota Codified Laws 47-29-11
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SDC 1939, § 11.1906; SL 1949, ch 24; SL 1955, ch 16.