49-17A-3. Contents of agreement creating authority.The agreement authorized in §49-17A-2 shall state:(1)That the railroad authority is created and incorporated under the provisions of this chapter as a political subdivision of this state, to exercise thereunder a part of the sovereign power of the state;(2)The name of the authority which shall include the words 'regional railroad authority';(3)The names of the subdivisions which have approved the agreement and are the initial members of the regional railroad authority;(4)The names and addresses of the persons initially appointed by the resolutions approving the agreement to act as the representatives or alternate representatives of the subdivisions;(5)The address of the registered office of the authority and the name of its registered agent at such office;(6)That the subdivisions which are members of the regional railroad authority and its commissioners, officers, and agents are not liable for its obligations;(7)Any other provision for regulating the business of the regional railroad authority which may be agreed upon by the subdivisions. Source: SL 1978, ch 344, §3.
South Dakota Legal Code