Section 41-4-7 - Minimum price of timber sales--Sale to highest bidder--Rejection of bids andreadvertisement.
41-4-7. Minimum price of timber sales--Sale to highest bidder--Rejection of bids and readvertisement. No sale may be made under §§ 41-4-4 to 41-4-6, inclusive, unless the sum offered is at least ninety percent of the appraised value of the timber as fixed by the state forester, and all sales shall be made to the highest responsible bidder. The Department of Game, Fish and Parks may reject any bids and readvertise the sale if no bid is satisfactory, or if the department believes any agreement has been entered into by the bidders to prevent competition.
Source: SDC Supp 1960, § 25.1308 as enacted by SL 1966, ch 73, § 2; SL 1984, ch 276, § 5; SL 2009, ch 206, § 36.