South Dakota § 49-34A-29 Issue of security or assumption of liability by utility prohibited unless authorized by commission.

South Dakota Statutes

§ 49-34A-29 — Issue of security or assumption of liability by utility prohibited unless authorized by commission.

South Dakota § 49-34A-29

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-32AGAS AND ELECTRIC UTILITIES REGULATION

This text of South Dakota § 49-34A-29 (Issue of security or assumption of liability by utility prohibited unless authorized by commission.) 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 § 49-34A-29 (2026).

Text

No public utility organized under the laws of this state or any public utility organized under the laws of any other state receiving more than twenty - five percent of its gross revenue in this state and which nonresident public utility is not subject to the jurisdiction of the federal power commission in the issuance of its securities shall issue any security, or assume any obligation or liability as guarantor, endorser, surety, or otherwise, in respect of any security of another person, unless and until, and then only to the extent that, upon application by the public utility, the Public Utilities Commission by order authorizes such issue or assumption of liability.

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No public utility organized under the laws of this state or any public utility organized under the laws of any other state receiving more than twenty - five percent of its gross revenue in this state and which nonresident public utility is not subject to the jurisdiction of the federal power commission in the issuance of its securities shall issue any security, or assume any obligation or liability as guarantor, endorser, surety, or otherwise, in respect of any security of another person, unless and until, and then only to the extent that, upon application by the public utility, the Public Utilities Commission by order authorizes such issue or assumption of liability.