43-25-22. Mortgage or conveyance of real estate by unincorporated association--Adoption of resolution, notice--Execution of instrument. Any unincorporated religious, benevolent, fraternal, charitable, or educational association may mortgage or convey any real estate which is owned by such association by adopting a resolution directing such mortgage or conveyance, which mortgage or conveyance shall be executed by a majority of the board of trustees or directors, or by the presiding officer, and shall be attested by the secretary of the association; provided, however, that any such resolution may be adopted at a regular meeting of such association, or a special meeting called for such purpose, and that notice of such proposed action shall be published in a newspaper of general circulation in the community in which such association has its place of meeting, once each week for two successive weeks prior to such meeting.
Source: SL 1943, ch 22; SL 1947, ch 32; SDC Supp 1960, § 11.1304; SL 1970, ch 248, § 1.
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