Section 47-21-74 - Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents of statement.
47-21-74. Foreign cooperatives--Conditions to local operation--Statement to secretary of state--Contents of statement. Any foreign nonprofit or cooperative corporation supplying or authorized to supply electric energy and owning or operating electric transmission or distribution lines in an adjacent state may construct or acquire extensions of such lines in this state and operate such extensions. Any such corporation, before constructing or operating such extensions, shall, by its president or vice-president, under its seal attested by its secretary, make and forward to the secretary of state a statement, duly sworn to, setting forth:
(1) The name of such corporation and the location of its principal office or place of business without this state, and in case such corporation is to have any place of business or principal office within this state, the location thereof;
(2) The names and addresses of the officers of such corporation and the name and address of the agent or manager of such corporation who will represent it in this state; and
(3) That it constitutes and appoints the secretary of state its true and lawful agent upon whom the summons, notices, pleadings, or process in any action or proceeding against it may be served in respect of any liability arising out of any business, contract, or transaction in this state and that it stipulates that service thereof upon the secretary of state or his deputy shall be accepted irrevocably as a valid service upon it and that such appointment and stipulation shall continue in force irrevocably so long as any liability of such corporation remains outstanding in this state.
Upon compliance with the requirements of this section such corporation shall have all the rights, powers, privileges, and immunities of a cooperative.
Source: SL 1947, ch 33, § 31; SDC Supp 1960, § 11.2231.