47-15-30. Powers of cooperatives--Contracts--Encumbrances.
Unless otherwise provided by its articles, a cooperative may
(1)Make contracts, incur liabilities, and borrow money;
(2)Issue certificates representing indebtedness, or representing equity interests in its assets;
(3)Acquire property;
(4)Dispose of, mortgage, pledge, lease, or otherwise use in any manner any of its property, or any interest therein, wherever situated.
Source: SDC 1939, §11.1103 (4) as enacted by SL 1965, ch 23, §1.