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Statutes > South Dakota Laws > Title 49 - PUBLIC UTILITIES AND CARRIERS > Chapter 40 - Consumers Power District Dissolution And Sale Of Assets > Section 49-40-2 - Hypothecation of assets permitted.

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SOUTH DAKOTA STATUTES AND CODES

Section 49-40-2 - Hypothecation of assets permitted.

49-40-2. Hypothecation of assets permitted. If, in order to borrow money, it shall become necessary that a consumers power district mortgage, or otherwise hypothecate, any of its said property or assets to secure the payment of a loan or loans made to it, such district is hereby authorized and empowered to do so.

Source: SL 1950 (SS), ch 17, § 59; SDC Supp 1960, § 52.1758; SL 1975, ch 288.

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