South Dakota Codified Laws 34-9-14. Approval of municipality required for sale of real property by corporation
Current as of: 2023 | Check for updates
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Should the nonprofit corporation receiving the property desire to dispose of any of the real property transferred pursuant to § 34-9-11 through sale to a third party, the approval of the municipality must first be obtained.
Terms Used In South Dakota Codified Laws 34-9-14
- 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: SL 1972, ch 191.