State Codes and Statutes

Statutes > South-dakota > Title-49 > Chapter-17a > Statute-49-17a-3

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.