§ 46a-9-42

46A-9-42. Transfer of obligations of nonprofit rural water supplier or wastewater system operator to water user district, sanitary district, or municipality--Majority vote of district.Any nonprofit corporation, cooperative, or association engaged in the treatment, distribution, or sale of water or the collection, treatment, or disposal of wastewater to a rural area may, by majority vote of the membership voting in an election on the question, transfer all of its assets, liabilities, contracts, and other obligations to a water user district as defined in §46A-9-2, sanitary district authorized to operate a water system under §34A-5-41, or a municipality. No such action may be taken unless approved by majority vote of the water user district or sanitary district membership voting in an election on the action. Source: SL 1974, ch 285; SL 1977, ch 368; SL 1982, ch 312, §2; SDCL Supp, §46-16-40.1; SL 2006, ch 226, §5.