South Dakota § 9-41-7 - Bondholders' statutory mortgage on telephone improvements--Disposition of system prohibited until bonds retired.
Full text of South Dakota South Dakota Codified Laws § 9-41-7 — Bondholders' statutory mortgage on telephone improvements--Disposition of system prohibited until bonds retired., with citation guidance and answers to common questions.
§ 9-41-7. Bondholders' statutory mortgage on telephone improvements--Disposition of system prohibited until bonds retired.
There shall be a statutory mortgage lien upon the improvements, expanded or reconstructed telephone plant in favor of and for the equal benefit of the lawful holders of said bonds and interest coupons, and each of them, but no such lien shall attach to or become a charge upon or against those portions of the municipality's telephone lines or facilities which were not improved, expanded, or reconstructed with the proceeds of the revenue bonds. Until all such bonds are fully paid with interest, the municipality shall not sell or otherwise dispose of its improved, expanded, or reconstructed telephone lines or facilities and shall not establish, authorize, or grant a franchise for the operation of any other telephone company for furnishing exchange telephone service in competition with the municipal telephone lines and facilities within the municipal limits.
Source: SL 1953, ch 275, § 3; SDC Supp 1960, § 45.24C03.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 9-41-7
What does South Dakota Codified Laws § 9-41-7 cover?
Section 9-41-7 ("Bondholders' statutory mortgage on telephone improvements--Disposition of system prohibited until bonds retired.") 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 § 9-41-7?
A common citation format is "South Dakota Codified Laws § 9-41-7" (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 § 9-41-7 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.