Validity of signatures on bonds--Negotiable investment securities.
If any of the
commissioners or officers of the commission whose signatures appear on any bonds or coupons
cease to be commissioners or officers before the delivery of the bonds, their signatures shall be valid
for all purposes. Any provision of any law to the contrary notwithstanding, any bonds issued
pursuant to this chapter shall be negotiable investment securities within the meaning of chapter 57A-8.
Source: SL 1950 (SS), ch 13, § 22; SDC Supp 1960, § 45.3622; SL 1984, ch 43, § 100.