There is a newer version of the South Dakota Codified Laws
2010 South Dakota Code
Title 1 - STATE AFFAIRS AND GOVERNMENT
Chapter 16B - Economic Development Finance Authority
Section 1-16B-25 - Appointment of trustee on default in payment of bonds or notes.
1-16B-25. Appointment of trustee on default in payment of bonds or notes. If the authority is in default in the payment of principal or interest on any bonds or notes issued under this chapter for a period of thirty days, or if the authority fails to comply with the provisions of this chapter or defaults in any agreement with the holders of bonds or notes of the authority, the holders of twenty-five percent of the aggregate principal amount of the outstanding bonds or notes of that issue may appoint a trustee to represent them by filing the appointment with the secretary of state.Source: SL 1978, ch 9, § 21.
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