South Dakota § 49-17A-3 Contents of agreement creating authority.

South Dakota Statutes

§ 49-17A-3 — Contents of agreement creating authority.

South Dakota·Title 49 PUBLIC UTILITIES AND CARRIERS·Ch. 49-17A REGIONAL RAILROAD AUTHORITIES

The agreement authorized in § 49-17A-2 shall state:

(1)That the railroad authority is created and incorporated under the provisions of this chapter as a political subdivision of this state, to exercise thereunder a part of the sovereign power of the state;

(2)The name of the authority which shall include the words "regional railroad authority";

(3)The names of the subdivisions which have approved the agreement and are the initial members of the regional railroad authority;

(4)The names and addresses of the persons initially appointed by the resolutions approving the agreement to act as the representatives or alternate representatives of the subdivisions;

(5)The address of the registered office of the authority and the name of its registered agent at such office;

(6)

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The agreement authorized in § 49-17A-2 shall state: (1) That the railroad authority is created and incorporated under the provisions of this chapter as a political subdivision of this state, to exercise thereunder a part of the sovereign power of the state; (2) The name of the authority which shall include the words "regional railroad authority"; (3) The names of the subdivisions which have approved the agreement and are the initial members of the regional railroad authority; (4) The names and addresses of the persons initially appointed by the resolutions approving the agreement to act as the representatives or alternate representatives of the subdivisions; (5) The address of the registered office of the authority and the name of its registered agent at such office; (6) That the subdivisions which are members of the regional railroad authority and its commissioners, officers, and agents are not liable for its obligations; (7) Any other provision for regulating the business of the regional railroad authority which may be agreed upon by the subdivisions.

South Dakota § 49-17A-3 (Contents of agreement creating authority.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.