South Dakota § 1-16B-60 - Pledges by authority.
Full text of South Dakota South Dakota Codified Laws § 1-16B-60 — Pledges by authority., with citation guidance and answers to common questions.
§ 1-16B-60. Pledges by authority.
Any pledge made by the authority shall be valid and binding from the time when the pledge is made. The revenue, money, or properties pledged and thereafter received by or on behalf of the authority shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice thereof. Neither the resolution nor the trust indenture, if any, nor any other instrument by which a pledge is created need be recorded.
Source: SL 2020, ch 4, § 8.
Frequently Asked Questions About South Dakota § 1-16B-60
What does South Dakota Codified Laws § 1-16B-60 cover?
Section 1-16B-60 ("Pledges by authority.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 1-16B-60?
A common citation format is "South Dakota Codified Laws § 1-16B-60" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 1-16B-60 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.