Nothing in this chapter shall be construed to authorize the board or any institution to contract a debt on behalf of, or in any way to obligate, the State of South Dakota, or to pledge, assign, or encumber in any way, or to permit the pledging, assigning or encumbering in any way, of appropriations made by the Legislature of the State of South Dakota.
S.D. Codified Laws § 13-51A-23
Prohibition against obligating state
Known as the Board of Regents Revenue Bond Act
The act spans §§ 13–13 (44 sections).
Applied in 1 court decision — leading case 624 F. Supp. 1179 - South Dakota Board of Regents v. Hoops (1986)
Most recently applied in 624 F. Supp. 1179 - South Dakota Board of Regents v. Hoops (January 1986)
Source: SL 1971, ch 134, § 9.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.