Section 11-11-137 – Court actions to enforce loans or protect the public interest–Foreclosure.
11-11-137. Court actions to enforce loans or protect the public interest–Foreclosure. The authority may institute any action or proceeding against any housing sponsor or persons and families receiving a loan pursuant to the provisions of this chapter, or owning any housing development or housing project pursuant to the provisions of this chapter in any court […]
Section 11-11-181 – Annual report by authority to Governor and Legislature.
11-11-181. Annual report by authority to Governor and Legislature. The authority shall submit to the Governor and the Legislature within one hundred fifty days of the close of its fiscal year a complete and detailed report setting forth: (1)Its operations and accomplishments; (2)Its receipts and expenditures during the fiscal year in accordance with the categories […]
Section 11-11-138 – Receiver appointed to safeguard authority’s loan.
11-11-138. Receiver appointed to safeguard authority’s loan. In connection with any action or proceeding pursuant to §11-11-137, the authority may apply for the appointment of a receiver to take over, manage, operate, and maintain the affairs of such housing sponsor, and the authority through such agent as it shall designate is hereby authorized to accept […]
Section 11-11-182 – Annual audit of authority.
11-11-182. Annual audit of authority. Notwithstanding any other provision of law, the authority shall be audited annually by a certified public accountant approved by, and under the direction of, the auditor general and any such private audit shall be filed with the Department of Legislative Audit upon completion. Source: SL 1978, ch 20, §10; SDCL […]
Section 11-11-139 – Reorganization of housing sponsor subject to control by authority.
11-11-139. Reorganization of housing sponsor subject to control by authority. In the event of the reorganization of any housing sponsor, such reorganization shall be subject to the supervision and control of the authority, and no such reorganization shall be had without the prior written consent of the authority. Source: SL 1973, ch 180, §15; SDCL […]
Section 11-11-183 – Chapter cumulative and supplemental to other laws.
11-11-183. Chapter cumulative and supplemental to other laws. Neither this chapter nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the authority might otherwise have under any laws of this state, and this chapter is cumulative to any such powers. This chapter does and shall be […]
Section 11-11-140 – Notice to authority before sale of real property on judgment against housing sponsor–Protective steps taken by authority.
11-11-140. Notice to authority before sale of real property on judgment against housing sponsor–Protective steps taken by authority. In the event of a judgment against any housing sponsor in any action not pertaining to the foreclosure of a mortgage, there shall be no sale of any of the real property included in any housing development […]
Section 11-11-184 – Chapter controlling over other laws.
11-11-184. Chapter controlling over other laws. Insofar as the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this chapter shall be controlling. Source: SL 1973, ch 180, §52; SDCL Supp, §28-19-161.
Section 11-11-141 – Promulgation of rules regarding borrowers, admission of occupants, and ancillary commercial facilities.
11-11-141. Promulgation of rules regarding borrowers, admission of occupants, and ancillary commercial facilities. The authority may promulgate rules pursuant to this chapter, regarding the definition of persons and families of low and moderate income, the regulation of borrowers, the admission of occupants to housing developments pursuant to this chapter, and the construction of ancillary commercial […]
Section 11-11-144 – Provisions governing loans and other financing to sponsors of multifamily units and day-care facilities.
11-11-144. Provisions governing loans and other financing to sponsors of multifamily units and day-care facilities. Mortgage loans and other financing made by the authority to housing sponsors of multifamily residential housing units and sponsors of day-care facilities shall be subject to the terms and conditions set forth in §§11-11-148 to 11-11-161, inclusive, as applicable. Source: […]