South Dakota § 1-16B-54 - Direct mortgage loans for preferred development projects.
Full text of South Dakota South Dakota Codified Laws § 1-16B-54 — Direct mortgage loans for preferred development projects., with citation guidance and answers to common questions.
§ 1-16B-54. Direct mortgage loans for preferred development projects.
Notwithstanding any other provision in this chapter, the authority may participate with other parties in the making of direct mortgage loans for capital improvements for preferred development projects. The interest rate and time and rate of amortization for that part of such a mortgage loan made by the authority and that made by others need not be equal. The interest rate, if any, charged by the authority shall be determined by the authority and the principal indebtedness represented by the mortgage loan and interest accrued, if any, may be forgiven on such terms and conditions as the authority in the exercise of its discretion deems appropriate.
Source: SL 1994, ch 11, § 8.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 1-16B-54
What does South Dakota Codified Laws § 1-16B-54 cover?
Section 1-16B-54 ("Direct mortgage loans for preferred development projects.") 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-54?
A common citation format is "South Dakota Codified Laws § 1-16B-54" (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-54 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.