South Dakota Statutes
§ 47-21-44 — Encumbering cooperative property in favor of governmental agency permitted.
South Dakota § 47-21-44
This text of South Dakota § 47-21-44 (Encumbering cooperative property in favor of governmental agency permitted.) 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 § 47-21-44 (2026).
Text
The board of directors of a cooperative shall have full power to authorize the execution and delivery of a mortgage or mortgages or a deed or deeds of trust of, or the pledging or encumbering of, any or all of the property, assets, rights, privileges, licenses, franchises, and permits of the cooperative whether acquired or to be acquired, and wherever situated, as well as the revenues therefrom, all upon such terms and conditions as the board of directors shall determine, to secure any indebtedness of the cooperative to United States of America or any agency or instrumentality thereof or any other lender.
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Legislative History
SL 1947, ch 33, § 24; SDC Supp 1960, § 11.2224 (1); SL 1971, ch 259, § 1.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
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Bluebook (online)
South Dakota § 47-21-44, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/47-21-44.