South Dakota Statutes

§ 1-16B-32 — Bonds and notes not issued when capital reserve below required amount.

South Dakota § 1-16B-32
JurisdictionSouth Dakota
Title 1STATE AFFAIRS AND GOVERNMENT
Ch. 1-16ECONOMIC DEVELOPMENT FINANCE AUTHORITY

This text of South Dakota § 1-16B-32 (Bonds and notes not issued when capital reserve below required amount.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
S.D. Codified Laws § 1-16B-32 (2026).

Text

The authority may not issue bonds or notes secured by the capital reserve fund if the capital reserve requirement exceeds the capital reserve fund at the time of issuance, unless the authority, at the time of issuance of such bonds or notes, deposits in the fund an amount which, together with the amount then in the fund, will not be less than the new capital reserve requirement.

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Legislative History

SL 1978, ch 9, § 16.

Nearby Sections

15
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Bluebook (online)
South Dakota § 1-16B-32, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/1-16B-32.