South Dakota § 49-16B-17 Leases to contain option to purchase--Purchase price.

South Dakota Statutes

§ 49-16B-17 — Leases to contain option to purchase--Purchase price.

South Dakota § 49-16B-17

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-16BSOUTH DAKOTA RAILROAD AUTHORITY

This text of South Dakota § 49-16B-17 (Leases to contain option to purchase--Purchase price.) 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 § 49-16B-17 (2026).

Text

The lease shall provide that the lessee may, at the expiration of the original or any extended term, purchase the leased premises at a stated price, which shall be the balance of the total cost of the project financed not amortized by the payments of rents previously made by the lessee. The lease shall provide that in the event of the exercise of the option to purchase the leased premises or in the event the lease has been extended for the full number of years which it is agreed the same may be extended, and all rents and payments provided for in the lease have been made, the lessor shall convey the premises to the lessee.

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The lease shall provide that the lessee may, at the expiration of the original or any extended term, purchase the leased premises at a stated price, which shall be the balance of the total cost of the project financed not amortized by the payments of rents previously made by the lessee. The lease shall provide that in the event of the exercise of the option to purchase the leased premises or in the event the lease has been extended for the full number of years which it is agreed the same may be extended, and all rents and payments provided for in the lease have been made, the lessor shall convey the premises to the lessee.