South Dakota § 46A-8-6 Assessments against shareholders--Purpose--Bylaws--Nonpayment.

South Dakota Statutes

§ 46A-8-6 — Assessments against shareholders--Purpose--Bylaws--Nonpayment.

South Dakota·Title 46A WATER MANAGEMENT·Ch. 46A-8 WATER USERS' ASSOCIATIONS

Any water users' association organized under the laws of this state and in conformity with the requirements of the United States under the Reclamation Act of June 17, 1902, as amended to January 1, 2011, and which, under its articles of incorporation, may furnish water only to its shareholders, may, for the purpose of raising revenue necessary for the accomplishment of the purposes of the association, levy assessments from time to time, as required, against its shareholders. The shareholders may make and enforce the necessary bylaws for the making, levying, collecting, and enforcing of the assessments. The nonpayment of any of the assessments is not a bar to the levying and collecting of other assessments against the same shareholders.

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Any water users' association organized under the laws of this state and in conformity with the requirements of the United States under the Reclamation Act of June 17, 1902, as amended to January 1, 2011, and which, under its articles of incorporation, may furnish water only to its shareholders, may, for the purpose of raising revenue necessary for the accomplishment of the purposes of the association, levy assessments from time to time, as required, against its shareholders. The shareholders may make and enforce the necessary bylaws for the making, levying, collecting, and enforcing of the assessments. The nonpayment of any of the assessments is not a bar to the levying and collecting of other assessments against the same shareholders.

South Dakota § 46A-8-6 (Assessments against shareholders--Purpose--Bylaws--Nonpayment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.