46A-9-62. Default in payment of money specified in agreement--Termination of contract--Right to recovery not affected by discontinuation of services. Every contract made by the board of directors for the sale, conveyance, and distribution of water, use of water, water storage, or for the collection, treatment, or disposal of wastewater, or other service, or for the sale of any property or facilities, shall provide that in the event of any failure or default in the payment of any moneys specified in the contract to be paid to the board, the board may, upon such notice as prescribed in the contract, terminate the contract and all obligations under the contract. The act of the board in ceasing on any such default to furnish or deliver water, use of water, or water storage, or other services under the contract does not deprive the board of, or limit any remedy provided by the contract or by law for the recovery of any moneys due or which may become due under the contract.
Source: SL 1939, ch 291, § 16; SDC Supp 1960, § 61.1316 (3); SDCL, § 46-16-60; SL 2006, ch 226, § 12.
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