South Dakota § 1-16B-56 - Value Added Finance Authority Abolished--Duties and responsibilities transferred--Economic Development Finance Authority and Board of Economic Development.
Full text of South Dakota South Dakota Codified Laws § 1-16B-56 — Value Added Finance Authority Abolished--Duties and responsibilities transferred--Economic Development Finance Authority and Board of Economic Development., with citation guidance and answers to common questions.
§ 1-16B-56. Value Added Finance Authority Abolished--Duties and responsibilities transferred--Economic Development Finance Authority and Board of Economic Development.
The Value Added Finance Authority created by chapter 1-16E is hereby abolished. The rights, privileges, and duties of the Value Added Finance Authority, the holders of bonds and other obligations issued, and of the parties to contracts, leases, indentures, and other documents or transactions entered into, before July 1, 2020, by the Value Added Finance Authority or any officer or employee thereof, and covenants and agreements as set forth therein, remain in effect, and none of those rights, privileges, duties, covenants, or agreements are impaired or diminished by abolition of the Value Added Finance Authority. The Economic Development Finance Authority is substituted for the Value Added Finance Authority and succeeds to the rights, privileges, and duties, and leases, indentures, accounts, and other documents or transactions, including those related to the nutrient management bond program, the agribusiness bond program, the beginning farmer bond program, and the value-added agriculture agribusiness relending program of the Value Added Finance Authority are hereby transferred to the Economic Development Finance Authority. The Board of Economic Development is substituted for the Value Added Finance Authority and succeeds to the rights, privileges, and duties, and leases, indentures, accounts, and other documents or transactions relating to the value-added agriculture subfund.
Source: SL 2020, ch 4, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 1-16B-56
What does South Dakota Codified Laws § 1-16B-56 cover?
Section 1-16B-56 ("Value Added Finance Authority Abolished--Duties and responsibilities transferred--Economic Development Finance Authority and Board of Economic Development.") 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-56?
A common citation format is "South Dakota Codified Laws § 1-16B-56" (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-56 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
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