South Dakota Codified Laws 40-18-10. Designation of private or nonprofit corporation for provision of ownership inspection–Terms of contract
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The board may designate as an agency for the carrying on of livestock ownership inspection work a private or nonprofit corporation, and fix the compensation. Any contract entered into for the provision of livestock ownership inspection work shall contain provisions requiring a separate accounting of all income received and expenses paid by the agency based on such contract. Such accounting information shall be available to the public upon request to the board.
Terms Used In South Dakota Codified Laws 40-18-10
- Contract: A legal written agreement that becomes binding when signed.
- 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 1943, ch 142, § 4; SL 1947, ch 179; SDC Supp 1960, § 40.1201-2; SL 1967, ch 158; SL 1969, ch 167, § 2; SL 1977, ch 321, § 4; SL 1982, ch 18, § 137; SL 1988, ch 328, § 11.