South Dakota § 34A-15-1 - Legislative findings.
Full text of South Dakota South Dakota Codified Laws § 34A-15-1 — Legislative findings., with citation guidance and answers to common questions.
§ 34A-15-1. Legislative findings.
The Legislature hereby finds, and declare to be the public policy of this state, that:
(1) Environmental laws of the United States and this state provide that the owner of the real property is liable for the cleanup of property contamination and define who is the owner of such property;
(2) If a borrower defaults on a loan, a lender must decide whether to foreclose and potentially become the owner. For fear of becoming liable for conditions they did not create, lenders are showing a reluctance to foreclose, thus leaving no one responsible for the cleanup. Additionally, lenders are reluctant to lend to certain types of businesses because of this potential liability;
(3) So that lenders can predict with more certainty what the costs will be if they foreclose, it is the intent of the Legislature to limit third-party liability for lenders who comply with certain conditions.
Source: SL 1992, ch 261, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 34A-15-1
What does South Dakota Codified Laws § 34A-15-1 cover?
Section 34A-15-1 ("Legislative findings.") 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 § 34A-15-1?
A common citation format is "South Dakota Codified Laws § 34A-15-1" (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 § 34A-15-1 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.