South Dakota Codified Laws 28-18-3. Self-liquidating bonds issued by nonprofit corporation
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Such board of directors may issue self–liquidating bonds for the purpose of constructing or equipping necessary facilities for the purposes of the corporation.
Terms Used In South Dakota Codified Laws 28-18-3
- 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.
Source: SL 1953, ch 302, § 1; SDC Supp 1960, § 27.1209.