South Dakota Codified Laws > Title 49 > Chapter 40 – Consumers Power District Dissolution and Sale of Assets


§ 49-40-1	Conditions under which assets may be transferred or encumbered
§ 49-40-2	Hypothecation of assets permitted
§ 49-40-3	Sale of consumers power district assets
§ 49-40-3.1	Sale of assets–Retroactive application
§ 49-40-4	Right of municipality to purchase portion of assets within boundaries
§ 49-40-5	Inability to agree with municipality on price–Court determination–Basis ofdetermination
§ 49-40-6	Allocation of bonded indebtedness as between municipality and other transferee–Terms of court award
§ 49-40-8	Lease or alienation of facilities within municipality
§ 49-40-9	Petition for dissolution of district–Conditions under which dissolution may bepermitted–Notice of dissolution–Contents of notice–Expenses of dissolution
§ 49-40-10	Court hearing and investigation respecting dissolution–Filing order of dissolutionwith clerk of courts and secretary of state

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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.
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
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}
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2