§ 49-40-1 Conditions under which assets may be transferred or encumbered
§ 49-40-2 Hypothecation of assets permitted
§ 49-40-3 Sale of consumers power district assets
§ 49-40-3.1 Sale of assets–Retroactive application
§ 49-40-4 Right of municipality to purchase portion of assets within boundaries
§ 49-40-5 Inability to agree with municipality on price–Court determination–Basis ofdetermination
§ 49-40-6 Allocation of bonded indebtedness as between municipality and other transferee–Terms of court award
§ 49-40-8 Lease or alienation of facilities within municipality
§ 49-40-9 Petition for dissolution of district–Conditions under which dissolution may bepermitted–Notice of dissolution–Contents of notice–Expenses of dissolution
§ 49-40-10 Court hearing and investigation respecting dissolution–Filing order of dissolutionwith clerk of courts and secretary of state
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In South Dakota Codified Laws > Title 49 > Chapter 40 - Consumers Power District Dissolution and Sale of Assets

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2