47-15-30. Powers of cooperatives--Contracts--Encumbrances.Unless otherwise provided by its articles, a cooperative may(1)Make contracts, incur liabilities, and borrow money;(2)Issue certificates representing indebtedness, or representing equity interests in its assets;(3)Acquire property;(4)Dispose of, mortgage, pledge, lease, or otherwise use in any manner any of its property, or any interest therein, wherever situated. Source: SDC 1939, §11.1103 (4) as enacted by SL 1965, ch 23, §1.
South Dakota Legal Code