South Dakota Codified Laws 49-30-5. Powers of corporation–Holding property for accessory facilities
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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 make and hold such voluntary grants of real and other property as may be made to it to aid in the construction, maintenance, and accommodation of its line of telegraph or telephone, but the real property received by voluntary grant shall be held and used for the purposes of such grant only.
Terms Used In South Dakota Codified Laws 49-30-5
- 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.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SDC 1939, § 52.1311 (2).