46A-9-42. Transfer of obligations of nonprofit rural water supplier or wastewater system operator to water user district, sanitary district, or municipality--Majority vote of district.
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/sd/title-46/chapter-46-9/46a-9-42A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any nonprofit corporation, cooperative, or association engaged in the treatment, distribution, or sale of water or the collection, treatment, or disposal of wastewater to a rural area may, by majority vote of the membership voting in an election on the question, transfer all of its assets, liabilities, contracts, and other obligations to a water user district as defined in § 46A-9-2 , sanitary district authorized to operate a water system under § 34A-5-41 , or a municipality. No such action may be taken unless approved by majority vote of the water user district or sanitary district membership voting in an election on the action.