South Dakota Codified Laws 46A-1-63. Energy industry use funds deposit–Deposit of funds recovered through lawsuit or settlement
Funds accruing to the district under contract or instrument of conveyance for energy industry use under § 46A-2-19, received under § 46A-2-25 or any other source unless otherwise provided by law, shall be deposited in the South Dakota water and environment fund established by § 46A-1-60. Funds, including damages, interest, costs, and fees, recovered as a result of any lawsuit or settlement involving a contract or instrument of conveyance for energy industry use in which the conservancy district was party, shall be deposited in the water and environment program, except that any attorney fees and costs associated with the lawsuit or settlement shall be deposited in the fund created pursuant to § 1-11-6.1.
Terms Used In South Dakota Codified Laws 46A-1-63
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Source: SL 1981 (2d SS), ch 3, § 1; SL 1982, ch 28, § 15; SDCL Supp, § 46-17A-53.1; SL 1985, ch 354, § 2; SL 1989, ch 385, § 25A; SL 1992, ch 254, § 8.