49-33-8. Powers of corporation--Holding property.Every corporation organized under this chapter shall have power to take and hold such voluntary grants of real and other property as may be made to it to aid in the construction, maintenance, and accommodation of its railways, power or lighting plants, but the real property received by voluntary grant shall be held and used for the purpose of such grant only. Source: SDC 1939, §52.1509 (3).
South Dakota Legal Code