S.D. Admin. R. 20:09:06:04

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:09:06:04 - Mortgage or other authority financing terms

Authority permanent mortgage loans or other authority financing may be made for terms of up to 40 years. The term of any authority mortgage loan or other authority financing, the date for the commencement of the amortization of the principal amount, the amortization period, terms of repayment or prepayment, and other terms and conditions of the loan must be specified in the mortgage documents.

SL 1975, ch 16, § 1; 2 SDR 31, effective 10/30/1975; transferred from § 45:01:06:04, effective 7/1/1979; 6 SDR 98, effective 4/6/1980; 10 SDR 4, effective 7/27/1983; 12 SDR 151, 12 SDR 155, effective 7/1/1986; 22 SDR 64, effective 11/12/1995.

General Authority: SDCL 11-11-30, 11-11-128, 11-11-141, 11-11-143, 11-11-165, 11-11-168, 11-11-180.

Law Implemented: SDCL 11-11-106, 11-11-110, 11-11-141, 11-11-142, 11-11-149 to 11-11-151.