South Dakota § 49-17A-12 Withdrawal of subdivision from authority--Disposition of assets and liabilities.

South Dakota Statutes

§ 49-17A-12 — Withdrawal of subdivision from authority--Disposition of assets and liabilities.

South Dakota § 49-17A-12

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-17AREGIONAL RAILROAD AUTHORITIES

This text of South Dakota § 49-17A-12 (Withdrawal of subdivision from authority--Disposition of assets and liabilities.) 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 § 49-17A-12 (2026).

Text

A regional authority may be decreased if the commissioners of the regional authority consent to the decrease. In such event, the commissioners shall provide for the retention and make provisions for the retention or disposition of its assets and liabilities. However, if the regional authority has any bonds outstanding no decrease shall be effected unless one hundred percent of the holders of the bonds consent in writing thereto.

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A regional authority may be decreased if the commissioners of the regional authority consent to the decrease. In such event, the commissioners shall provide for the retention and make provisions for the retention or disposition of its assets and liabilities. However, if the regional authority has any bonds outstanding no decrease shall be effected unless one hundred percent of the holders of the bonds consent in writing thereto.