South Dakota Codified Laws 54-1-9. “Securitization” defined
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For purposes of §§ 54-1-9 and 54-1-10, a securitization is the pooling and repackaging by a special purpose entity of assets or other credit exposures that can be sold to investors. Securitization includes transactions that create stratified credit risk positions whose performance is dependent upon an underlying pool of credit exposures, including loans and commitments.
Terms Used In South Dakota Codified Laws 54-1-9
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Dependent: A person dependent for support upon another.
Source: SL 2003, ch 241, § 1.