Section 5-17-38 - Exchange of real property containing minerals--Valuation. - South Dakota Statutes

5-17-38. Exchange of real property containing minerals--Valuation. If the State Cement Plant Commission is, in its judgment, satisfied that it is meet and proper and in the best interest of the operation of the cement plant to exchange real property containing minerals for other real property containing minerals, the commission shall so declare by proper resolution and direct the necessary instrument of conveyance to be executed, conveying such real property including the minerals contained therein. Such exchange shall only be made after the value of the real property and mineral in both the property conveyed and the property acquired has been fixed by appraisement of the Cement Plant Commission, and any difference in valuation shall be either received or paid in cash at the time of exchange.

Source: SL 1993, ch 55, § 1.