South Dakota Codified Laws 1-53-23. Commissioner of Governor’s Office of Economic Development as state official to receive rural rehabilitation trust assets
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The commissioner of the Governor’s Office of Economic Development is hereby designated as the state official of the State of South Dakota to make application to and receive from the secretary of agriculture of the United States, or any other proper federal official, pursuant and subject to the provisions of Public Law 499, 81st Congress, approved May 3, 1950, the trust assets, either funds or property, held by the United States as trustee in behalf of the South Dakota Rural Rehabilitation Corporation.
Terms Used In South Dakota Codified Laws 1-53-23
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1951, ch 4, § 1; SDC Supp 1960, § 4.0115; SDCL § 38-6-1; SL 2019, ch 235 (Ex. Ord. 19-1), § 42, eff. Apr. 14, 2019.