South Dakota § 1-53-17 - Deposits into and expenditures from small business credit initiative fund.
Full text of South Dakota South Dakota Codified Laws § 1-53-17 — Deposits into and expenditures from small business credit initiative fund., with citation guidance and answers to common questions.
§ 1-53-17. Deposits into and expenditures from small business credit initiative fund.
Any repayment of loans and interest thereon must be receipted into the small business credit initiative fund and expended by the Board of Economic Development for the following purposes:
(1) The payment of administrative costs as permitted pursuant to 2 C.F.R Part 200 Subpart E, as applicable, as in effect on January 1, 2022;
(2) The payment of taxes and liens and for the procuring of legal services and any other services necessary to protect, recover, maintain, or liquidate the assets of the small business credit initiative fund as permitted pursuant to 2 C.F.R Part 200 Subpart E, as applicable, as in effect on January 1, 2022; and
(3) Making loans for economic development as permitted by 12 U.S.C. Chapter 54 (2021).
Source: SL 2012, ch 15, § 3; SL 2022, ch 6, § 3.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 1-53-17
What does South Dakota Codified Laws § 1-53-17 cover?
Section 1-53-17 ("Deposits into and expenditures from small business credit initiative fund.") 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 § 1-53-17?
A common citation format is "South Dakota Codified Laws § 1-53-17" (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 § 1-53-17 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.