South Dakota Codified Laws 34-9-11. Donation of municipal hospital property to nonprofit corporation–Use by corporationas health care facility or medical clinic
Current as of: 2023 | Check for updates
|
Other versions
In addition to other powers granted, any municipality may by resolution give to a nonprofit corporation, real and personal property owned by the municipality and used by it in the operation of a health care facility as defined in § 34-12-1.1 or a medical clinic. However, the transfer of property shall be accepted by a majority vote of the directors of the nonprofit corporation, and the property transferred, or the proceeds from the sale thereof, shall be used by the nonprofit corporation in the operation of a health care facility as defined in § 34-12-1.1 or a medical clinic.
Terms Used In South Dakota Codified Laws 34-9-11
- 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
Source: SL 1972, ch 191; SL 2000, ch 164, § 1.