South Dakota § 11-7-101 - Remedies conferred on bondholders by terms of bond.
Full text of South Dakota South Dakota Codified Laws § 11-7-101 — Remedies conferred on bondholders by terms of bond., with citation guidance and answers to common questions.
§ 11-7-101. Remedies conferred on bondholders by terms of bond.
A commission shall have power by its resolution, trust indenture, mortgage, lease, or other contract to confer upon any obligee holding or representing a specified amount in bonds, the right (in addition to all rights that may otherwise be conferred), upon the happening of an event of default as defined in such resolution or instrument, by suit, action, or proceeding in any court of competent jurisdiction:
(1) To cause possession of any project or any part thereof to be surrendered to any such obligee;
(2) To obtain the appointment of a receiver of any project of said commission or any part thereof and of the rents and profits therefrom. If such receiver be appointed, he may enter and take possession of such project or any part thereof and operate and maintain same, and collect and receive all fees, rents, revenues, or other charges thereafter arising therefrom, and shall keep such moneys in a separate account or accounts and apply the same in accordance with the obligations of said commission as the court shall direct;
(3) To require said commission and the commissioners, officers, agents, and employees thereof to account as if it and they were the trustees of an express trust.
Source: SL 1950 (SS), ch 13, § 25; SDC Supp 1960, § 45.3625.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 11-7-101
What does South Dakota Codified Laws § 11-7-101 cover?
Section 11-7-101 ("Remedies conferred on bondholders by terms of bond.") 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 § 11-7-101?
A common citation format is "South Dakota Codified Laws § 11-7-101" (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 § 11-7-101 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.