Section 34-9-10 - Conditions for transfer of municipal funds to private hospital--Transfer of tax fundsprohibited. - South-dakota Statutes

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34-9-10. Conditions for transfer of municipal funds to private hospital--Transfer of tax funds prohibited. No transfer of funds pursuant to § 34-9-9 shall be made except under the conditions as follows:
(1) That there is no other hospital operated within such municipality or license issued for such operation by the State Department of Health;
(2) That at least fifty percent of the total cost of such construction project has been first raised from sources other than those to be derived through the transfer of such surplus funds, such total cost based upon estimates of any architect or firm of architects duly registered by the State Commission of Engineering, Architectural, and Land Surveying Examiners; and
(3) That the articles of incorporation of such hospital corporation provide that no part of the corporation's earnings shall inure, or may lawfully inure, to the benefit of any member or private shareholder.
No funds shall be transferred that are acquired through legal tax levy in the municipality.

Source: SL 1949, ch 200, §§ 1, 2; SL 1953, ch 259; SDC Supp 1960, § 45.1437; SL 1990, ch 309, § 4.

State Codes and Statutes

Statutes > South-dakota > Title-34 > Chapter-09 > Statute-34-9-10

34-9-10. Conditions for transfer of municipal funds to private hospital--Transfer of tax funds prohibited. No transfer of funds pursuant to § 34-9-9 shall be made except under the conditions as follows:
(1) That there is no other hospital operated within such municipality or license issued for such operation by the State Department of Health;
(2) That at least fifty percent of the total cost of such construction project has been first raised from sources other than those to be derived through the transfer of such surplus funds, such total cost based upon estimates of any architect or firm of architects duly registered by the State Commission of Engineering, Architectural, and Land Surveying Examiners; and
(3) That the articles of incorporation of such hospital corporation provide that no part of the corporation's earnings shall inure, or may lawfully inure, to the benefit of any member or private shareholder.
No funds shall be transferred that are acquired through legal tax levy in the municipality.

Source: SL 1949, ch 200, §§ 1, 2; SL 1953, ch 259; SDC Supp 1960, § 45.1437; SL 1990, ch 309, § 4.

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State Codes and Statutes

Statutes > South-dakota > Title-34 > Chapter-09 > Statute-34-9-10

34-9-10. Conditions for transfer of municipal funds to private hospital--Transfer of tax funds prohibited. No transfer of funds pursuant to § 34-9-9 shall be made except under the conditions as follows:
(1) That there is no other hospital operated within such municipality or license issued for such operation by the State Department of Health;
(2) That at least fifty percent of the total cost of such construction project has been first raised from sources other than those to be derived through the transfer of such surplus funds, such total cost based upon estimates of any architect or firm of architects duly registered by the State Commission of Engineering, Architectural, and Land Surveying Examiners; and
(3) That the articles of incorporation of such hospital corporation provide that no part of the corporation's earnings shall inure, or may lawfully inure, to the benefit of any member or private shareholder.
No funds shall be transferred that are acquired through legal tax levy in the municipality.

Source: SL 1949, ch 200, §§ 1, 2; SL 1953, ch 259; SDC Supp 1960, § 45.1437; SL 1990, ch 309, § 4.