There is a newer version of the South Dakota Codified Laws
2023
2022
2021
2020
2019
Other previous versions
View our newest version here

2011 South Dakota Code
Title 1 STATE AFFAIRS AND GOVERNMENT
Chapter 16B. Economic Development Finance Authority
§1-16B-46 Terms of loan to local agency--Subordination to other loans.


SD Codified L § 1-16B-46 (through 2011) What's This?

1-16B-46. Terms of loan to local agency--Subordination to other loans. Any loan of the authority shall be for the period of time and shall bear interest at the rate determined by the authority and shall be secured by a mortgage on the development project for which the loan was made. The mortgage may be subordinate only to a mortgage held by the independent and responsible sources which financed the development project.

Source: SL 1978, ch 9, § 29.

Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.