S.D. Codified Laws § 47-18-10

Current through the 2024 Legislative Session

Section 47-18-10 - Mortgaging assets to secure payment of debts

Unless the bylaws of a cooperative provide otherwise, the board of directors may secure payment of a cooperative's debts by mortgaging the cooperative's rights, privileges, authority and franchises, revenues, and other property.

SDCL 47-18-10

SDC 1939, § 11.1130 (2) as enacted by SL 1965, ch 23, § 1.