49-37-22. Just compensation for use of state waters--Amount of compensation.
No inferior right to the use of the waters of this state shall be acquired by a superior right without just compensation therefor to the inferior user. The just compensation paid to those using water for power purposes shall not be greater than the cost of replacing the power which would be generated in the plant or plants of the power user by the water so acquired.
Source: SL 1950 (SS), ch 17, §79; SDC Supp 1960, §52.1778.