South Dakota Codified Laws 34A-16-17. Application and acceptance of gifts, grants, or loans
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The district may apply for and accept gifts, loans, or other property from the United States, the state, any public agency as defined in § 1-24-1, or any person for any of its purposes, may enter into any agreement required in connection therewith, and may hold, use, and dispose of the money or property in accordance with the terms of the gift, grant, loan, or agreement.
Terms Used In South Dakota Codified Laws 34A-16-17
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1993, ch 259, § 19.