South Dakota Codified Laws 6-8B-63. Determination by governing body on limitations conclusive absent fraud or abuse
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The determination by a governing body that all of the limitations imposed upon the issuance of a credit enhancement obligation have been met is conclusive in the absence of fraud or arbitrary and gross abuse of discretion.
Terms Used In South Dakota Codified Laws 6-8B-63
- Fraud: Intentional deception resulting in injury to another.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Source: SL 1992, ch 3, § 12.