South Dakota Codified Laws 46A-8-8. Authority of association to transfer assets to municipality
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Any water user’s association organized pursuant to this chapter may, by a majority vote of its shareholders, sell, lease, or otherwise dispose of part or all of its assets to a municipality.
Terms Used In South Dakota Codified Laws 46A-8-8
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Source: SL 1982, ch 312, § 1; SDCL Supp, § 46-11-8.