The municipality shall acquire the stock, equipment, and fixtures from any licensee whose license has been terminated by reason of the municipal election by which the municipality was authorized to engage in such business, such acquisition to be by purchase, condemnation, or arbitration.
S.D. Codified Laws § 35-3-15
Acquisition of stock and equipment from licensee forced out of business by acquisition of municipal license
Source: SDC 1939, § 5.0236 as added by SL 1951, ch 7; SL 1953, ch 11; SL 1959, ch 10, § 3; SL 1971, ch 211, § 34.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.