46A-6-51. Transfer of assets and liabilities of nonprofit entity to district--Approval by governing board and electors.
Any nonprofit corporation, cooperative, or association located within an irrigation district may transfer assets, liabilities, contracts, or other obligations to the irrigation district. To be valid, such transfer shall be approved by formal resolution of the governing body of the transferring entity and also shall be approved in an election thereon by an affirmative majority vote of the district electors voting on the question.
Source: SL 1984, ch 295, ยง1.
Structure South Dakota Codified Laws
Chapter 06 - Irrigation District Contracts And Financing
Section 46A-6-1 - Unauthorized debts and liabilities prohibited.
Section 46A-6-2 - Contracts for supply of water to irrigate lands--Source of supply.
Section 46A-6-3 - Payment within one year of purchase price of water supply--Tax levy.
Section 46A-6-4.1 - Eligibility to vote on water supply contract.
Section 46A-6-10 - Prior supplemental contracts with United States validated.
Section 46A-6-15 - Covenants and agreements to protect security and payment of bonds.
Section 46A-6-19 - Payment of bonds and interest--Annual assessment upon real property of district.
Section 46A-6-30 - Compliance with federal and state laws--Rights of district to contract.
Section 46A-6-39 - Borrowing to make payments on federal contracts.
Section 46A-6-40 - Borrowing for unforeseen or unusual conditions in operation and maintenance.
Section 46A-6-41 - Maximum amount of loans--Payment.
Section 46A-6-41.1 - Borrowing funds from conservancy district--Pledge of district credit.
Section 46A-6-45 - Additional bonds of district--Priority.
Section 46A-6-47 - Claims against district--Allowance--Warrants for payment.