Section 11-11-62 - Powers vested in trustee--Appointment by bondholders. - South Dakota Statutes

11-11-62. Powers vested in trustee--Appointment by bondholders. Any resolution or resolutions authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract or contracts with the holders thereof, vesting in a trustee or trustees such property, rights, powers, and duties in trust as the authority may determine, which may include any or all of the rights, powers, and duties of the trustee appointed by the bondholders pursuant to this chapter and limiting or abrogating the right of the bondholders to appoint a trustee under this chapter or limiting the rights, powers, and duties of such trustee.

Source: SL 1973, ch 180, § 30 (9); SDCL Supp, § 28-19-53.