Section 46A-8-6 - Assessments against shareholders of association--Purpose--Bylaws for making, levying,collecting, and enforcing--Nonpayment does not bar other assessments. - South Dakota Statutes

46A-8-6. Assessments against shareholders of association--Purpose--Bylaws for making, levying, collecting, and enforcing--Nonpayment does not bar other assessments. Any water users' association organized under the laws of this state and in conformity with the requirements of the United States under the Reclamation Act of June 17, 1902, and which, under its articles of incorporation, is authorized to furnish water only to its shareholders, is authorized, for the purpose of raising revenue necessary for the accomplishment of the purposes of such association, to levy assessments from time to time, as required, against its shareholders; and the shareholders shall have authority to make and enforce the necessary bylaws for the making, levying, collecting, and enforcing of such assessments. The nonpayment of any one or more of such assessments shall not be a bar to the levying and collecting of other assessments against the same shareholders.

Source: SDC 1939, § 61.0201; SDCL, § 46-11-6.