49-33-5. Powers of corporation--Operation of business. Upon the issue of a certificate pursuant to § 49-33-4 the subscribers to such articles of incorporation, and all persons who shall thereafter become stockholders in such corporation, shall be a corporation by the name of and may engage in the businesses specified in such articles and shall possess all the powers and be subject to all provisions of law relating to street railways and electric light and power companies and the provisions of this chapter and chapter 49-34 applicable thereto. And the rights and powers provided in said chapters with respect to street railways and electric companies shall be construed to extend and apply to the businesses engaged in by such corporation pursuant to the provisions hereof with respect to rights of way, acquisition and use of property, franchises, extensions of service and consolidations as the same relate to and are consistent with said businesses.
Source: SDC 1939, § 52.1502; SL 1947, ch 236, § 2.
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