South Dakota Codified Laws 11-11-151. Terms and form of loans or other financing–Investment in multifamily residential housing projects and day-care facilities
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Each mortgage loan made or other financing provided by the authority shall contain such terms and provisions and be in such form as approved by the authority. With respect to multifamily residential housing projects and day-care facilities, the authority may also assist the development of such housing projects and day-care facilities by investing as a limited partner or shareholder in the housing sponsor upon such terms and conditions as the authority determines.
Terms Used In South Dakota Codified Laws 11-11-151
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1973, ch 180, § 19 (6); SDCL Supp, § 28-19-129; SL 1995, ch 80, § 21; SL 2012, ch 78, § 96.