S.D. Codified Laws § 38-34-15

Current through the 2024 Legislative Session

Section 38-34-15 - Satisfaction of assessment liability if crops remain in storage for duration of pledge or mortgage-Exception

If pulse crops described in § 38-34-14 remain in farm storage for the duration of the pledge or mortgage, the assessment paid at the time the loan was made completely satisfies the assessment liability unless upon subsequent actual delivery of the pulse crop from farm storage in satisfaction of the pledge, or mortgage in the amount of one dollar or more, any underpayment is due solely to the necessity of estimating the quantity of the pulse crops placed in farm storage.

SDCL 38-34-15

SL 2005, ch 214, §15.