South Dakota Codified Laws 9-41A-34. Encumbrance of property to secure obligations
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A municipal power agency may mortgage, pledge, and grant a security interest in any or all of its real and personal property to secure the payment of its bonds, notes, or other obligations or contracts.
Terms Used In South Dakota Codified Laws 9-41A-34
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1978, ch 66, § 31.