South Dakota Codified Laws 34A-5-49. Property not acquired nor debts assumed by incorporation of consolidated district
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The consolidated sanitary district may not, however, by virtue of its incorporation, acquire any of the property or assume any of the debts, obligations, or liabilities of any municipality or sanitary district included within its boundaries.
Terms Used In South Dakota Codified Laws 34A-5-49
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1964, ch 144, § 8; SL 1966, ch 146, § 2; SL 1967, ch 226; SDCL § 34-17-42; SL 1992, ch 60, § 2; SL 2011, ch 165, § 107.