South Dakota Statutes
§ 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.
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South Dakota § 1-16B-38 (Maximum loan to local agency--Vote required for approval.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1978, ch 9, §§ 7, 32; SL 1986, ch 14, § 10.