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2017 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 18 - Cooperatives--Reorganization And Dissolution
§ 47-18-10 Mortgaging assets to secure payment of debts.
Universal Citation: SD Codified L § 47-18-10 (2017)
47-18-10. Mortgaging assets to secure payment of debts. Unless the bylaws of a cooperative provide otherwise, the board of directors may secure payment of a cooperative's debts by mortgaging the cooperative's rights, privileges, authority and franchises, revenues, and other property.
Source: SDC 1939, § 11.1130 (2) as enacted by SL 1965, ch 23, § 1.
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