Powers of cooperatives--Contracts--Encumbrances
Known as the South Dakota Cooperative Association Act
The act spans §§ 47–47 (47 sections).
Source: SDC 1939, § 11.1103 (4) as enacted by SL 1965, ch 23, § 1.
Unless otherwise provided by its articles, a cooperative may
(1) Make contracts, incur liabilities, and borrow money;
(2) Issue certificates representing indebtedness, or representing equity interests in its assets;
(3) Acquire property;
(4) Dispose of, mortgage, pledge, lease, or otherwise use in any manner any of its property, or any interest therein, wherever situated.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.