SDCL § 1-16A-15: Corporate powers of authority.

The authority has the following powers together with all powers incidental or necessary for the performance thereof:

(1) To have perpetual succession as a body politic and corporate;

(2) To adopt bylaws for the regulation of its affairs and the conduct of its business;

(3) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;

(4) To have and to use a corporate seal and to alter the same at pleasure;

(5) To maintain an office at such place or places as it may designate;

(6) To do all things necessary and convenient to carry out the purposes of this chapter;

(7) To establish a minimum amount of cash and investment reserves; and

(8) [Repealed July 1, 2019 by SL 2018, ch 8, § 1.]