South Dakota Codified Laws 1-16A-15. Corporate powers of authority
The authority has the following powers together with all powers incidental or necessary for the performance thereof:
(1) To have perpetual succession as a body politic and corporate;
Terms Used In South Dakota Codified Laws 1-16A-15
- Authority: means the South Dakota Health and Educational Facilities Authority created by this chapter. See South Dakota Codified Laws 1-16A-2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper, and also the word "seal" written or printed on such paper. See South Dakota Codified Laws 2-14-2
(2) To adopt bylaws for the regulation of its affairs and the conduct of its business;
(3) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;
(4) To have and to use a corporate seal and to alter the same at pleasure;
(5) To maintain an office at such place or places as it may designate;
(6) To do all things necessary and convenient to carry out the purposes of this chapter;
(7) To establish a minimum amount of cash and investment reserves; and
(8) [Repealed July 1, 2019 by SL 2018, ch 8, § 1.]
Source: SL 1972, ch 10, § 7 (1) to (5), (15); SL 2018, ch 8, § 1.