SDCL § 38-8-26: Certificates of organization for new districts--Certificate of dissolution--Assets and liabilities revert to new district.

The requirements of §§ 38-8-16 to 38-8-18, inclusive, apply to applications for issuance of certificates of organization for new districts pursuant to § 38-8-22. Upon termination of the existing districts, the secretary of state shall issue and record a certificate of dissolution. All assets and liabilities of the original districts shall revert to the new district.