South Dakota § 1-16B-47 - Foreclosure to take title to development project--Sale or lease.
Full text of South Dakota South Dakota Codified Laws § 1-16B-47 — Foreclosure to take title to development project--Sale or lease., with citation guidance and answers to common questions.
§ 1-16B-47. Foreclosure to take title to development project--Sale or lease.
The authority may, as necessary or appropriate to carry out the purposes of this chapter, take title by foreclosure to any development project where such acquisition is necessary to protect any loan previously made by the authority, and may sell, transfer, or convey any such development project to any responsible buyer. If such sale, transfer, or conveyance cannot be effected with reasonable promptness, the authority may, in order to minimize financial losses and sustain employment, lease such development project to a responsible tenant or tenants. However, the authority may not lease development projects except under the conditions and for the purposes cited in this section.
Source: SL 1978, ch 9, § 8 (11); SL 2009, ch 1, § 14.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 1-16B-47
What does South Dakota Codified Laws § 1-16B-47 cover?
Section 1-16B-47 ("Foreclosure to take title to development project--Sale or lease.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 1-16B-47?
A common citation format is "South Dakota Codified Laws § 1-16B-47" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 1-16B-47 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.