South Dakota Codified Laws 49-30-6. Powers of corporation–Purchase of real property for lines–Disposition of property
Current as of: 2023 | Check for updates
|
Other versions
Every corporation formed under the provisions of this chapter, and every corporation formed under the laws of any other state or territory or of the United States, owning or operating lines of telegraph or telephone within this state, shall have power to acquire by purchase such real and other property as may be necessary for the construction, maintenance, and operation of its lines of telegraph or telephone, to hold and use the same, to lease or otherwise dispose of any part or parcel thereof, or sell the same when no longer necessary to its use.
Terms Used In South Dakota Codified Laws 49-30-6
- 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.
- 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
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SDC 1939, § 52.1311 (3).