The directors shall have power to set up such reserves as in their judgment may be advisable, after all costs, expenses, rentals, and other legal charges against the association have been provided for.
S.D. Codified Laws § 40-23-23
Reserves established by directors
Source: SDC 1939, § 40.1806 (8).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.