Section 35-3-15 - Acquisition of stock and equipment from licensee forced out of business by acquisition of municipal license

35-3-15. Acquisition of stock and equipment from licensee forced out of business by acquisition of municipal license.The municipality shall acquire the stock, equipment, and fixtures from any licensee whose license has been terminated by reason of the municipal election by which the municipality was authorized to engage in such business, such acquisition to be by purchase, condemnation, or arbitration. Source: SDC 1939, §5.0236 as added by SL 1951, ch 7; SL 1953, ch 11; SL 1959, ch 10, §3; SL 1971, ch 211, §34.