South Dakota Codified Laws 50-7-3. Lease of airport to private operator–Liability for negligent maintenance of airport
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Any governmental agency may lease an airport or any portion of an airport or any airport facility for operating purposes to any person or corporation upon terms and conditions for a term of not to exceed fifty years as the governing body may approve. No governmental agency nor the governing agency is liable for the negligent maintenance or operation of any airport building, or other facility leased to an operator or erected by an operator upon a leased site.
Terms Used In South Dakota Codified Laws 50-7-3
- 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
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SDC 1939, § 2.0201 as added by SL 1939, ch 1; SL 1941, ch 1; SL 1945, ch 3; SL 1945, ch 4; SL 1947, ch 2; SL 1961, ch 1; SL 1992, ch 60, § 2; SL 2014, ch 222, § 45; SL 2015, ch 238, § 1.