There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 1 STATE AFFAIRS AND GOVERNMENT
Chapter 16B. Economic Development Finance Authority
§1-16B-38 Maximum loan to local agency--Vote required for approval.
SD Codified L § 1-16B-38 (through 2011) What's This?
1-16B-38. Maximum loan to local agency--Vote required for approval. If the authority determines, after hearing and examination, that the public purposes of this chapter will be accomplished, the authority may grant a loan to an enterprise. Approval of loan applications shall be by a majority vote of all members of the board of directors, eligible to vote thereon, the vote of each eligible member being duly recorded.
Source: SL 1978, ch 9, §§ 7, 32; SL 1986, ch 14, § 10.
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