South Dakota Codified Laws 49-37-4. Contractual powers–Sale of electrical appliances or equipment prohibited
Subject to the limitations of the petition for its creation and all amendments thereto, a consumers power district may engage in, or transact business, or enter into any kind of contract or arrangement with any person, firm, corporation, limited liability company, association or labor union, state, county, municipality, governmental subdivision, or agency, or with the government of the United States, the Rural Electrification Administration, or with any officer, department, bureau, or agency thereof, or with any corporation organized by federal law, including the Reconstruction Finance Corporation, or any successor thereof, or with any body, politic or corporate, for any of the purposes mentioned in §§ 49-37-2 and 49-37-3.1 or for or incident to the exercise of any one or more of the foregoing powers, or for the generation, distribution, transmission, sale, purchase, exchange, interchange, wheeling, and pooling of electric power and energy for lighting, power, heating, and for any and every service involving, employing, or in any manner pertaining to the use of electric power and energy, by whatever means generated or distributed, or for the financing or payment of the cost and expense incident to the acquisition or operation of any such power plant or system or incident to any obligation or indebtedness entered into or incurred by the district. However, the district may not engage in the sale of electrical appliances or equipment.
Terms Used In South Dakota Codified Laws 49-37-4
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1950 (SS), ch 17, § 40; SDC Supp 1960, § 52.1740; SL 1975, ch 286; SL 1994, ch 351, § 137; SL 2021, ch 200, § 5.