Any unincorporated religious, benevolent, fraternal, charitable, or educational association may mortgage or convey any real estate which is owned by such association by adopting a resolution directing such mortgage or conveyance, which mortgage or conveyance shall be executed by a majority of the board of trustees or directors, or by the presiding officer, and shall be attested by the secretary of the association; provided, however, that any such resolution may be adopted at a regular meeting of such association, or a special meeting called for such purpose, and that notice of such proposed action shall be published in a newspaper of general circulation in the community in which such association has its place of meeting, once each week for two successive weeks prior to such meeting.

contract signature

Ask a real estate law question, get an answer ASAP!
Thousands of highly rated, verified real estate lawyers.
Specialties include: All Real Estate Law, Landlord and Tenant Law, Foreclosure, Homeowners' Association, Trespassing, Property Law, General Legal and more.
Click here to chat with a lawyer about your rights.

Terms Used In South Dakota Codified Laws 43-25-22

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.

Source: SL 1943, ch 22; SL 1947, ch 32; SDC Supp 1960, § 11.1304; SL 1970, ch 248, § 1.

  Previous section
Next section  
 Chapter 25 Contents