South Dakota Codified Laws 35-3-25. Liquidation of municipal business on disapproval by voters
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If the result of an election held after the establishment of a business pursuant to this chapter requires the municipality to cease operation of the business, or any part of the business, the governing board of the municipality may liquidate the business and the assets of the business in a manner determined by resolution of the governing board, not inconsistent with the provisions of this title.
Terms Used In South Dakota Codified Laws 35-3-25
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Source: SDC 1939, § 5.0237; SL 2008, ch 37, § 163.