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.