Section 49-37-1 - Usual corporate powers--Power to hold property in conduct of business--Authority to promote district

49-37-1. Usual corporate powers--Power to hold property in conduct of business--Authority to promote district.Subject to the limitations of the petition for its creation and all amendments thereto, a consumers power district shall have all the usual powers of a corporation for public purposes and may purchase, hold, sell, and lease, as lessor or lessee, personal property and real estate, reasonably necessary for the conduct of its business, and may receive and hold property by gift, grant, will, exchange, or otherwise. A consumers power district may expend its money and use its assets and property to promote the district in any manner as the board of directors may determine. Source: SL 1950 (SS), ch 17, §39; SDC Supp 1960, §52.1739; SL 1989, ch 403, §19.