South Dakota § 51A-4-29 - Banks authorized to make or purchase loans secured by real estate mortgages--Sale of loans to Federal National Mortgage Association--Capital contributions.
Full text of South Dakota South Dakota Codified Laws § 51A-4-29 — Banks authorized to make or purchase loans secured by real estate mortgages--Sale of loans to Federal National Mortgage Association--Capital contributions., with citation guidance and answers to common questions.
§ 51A-4-29. Banks authorized to make or purchase loans secured by real estate mortgages--Sale of loans to Federal National Mortgage Association--Capital contributions.
A bank or other banking organization, organized under the laws of this state, which has as one of its principal purposes the making or purchasing of loans secured by real estate mortgages, may make real estate mortgage loans in any form, including but not limited to variable rate mortgages, collateral real estate mortgages, renegotiated rate mortgages, and shared appreciation mortgages, unless otherwise prohibited by law and may, notwithstanding any other provision of law, sell such mortgage loans to the Federal National Mortgage Association, a corporation chartered by an act of Congress, or any successor thereof, and in connection therewith may make payments of any capital contributions, required pursuant to law, in the nature of subscriptions for stock of the Federal National Mortgage Association or any successor thereof, and may receive stock evidencing such capital contributions, and hold or dispose of such stock.
Source: SL 1955, ch 231; SDC Supp 1960, § 39.0309; SDCL, § 51-11-2; SL 1981, ch 346, § 37; SDCL, § 51-18-24; SL 1995, ch 268, § 65.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 51A-4-29
What does South Dakota Codified Laws § 51A-4-29 cover?
Section 51A-4-29 ("Banks authorized to make or purchase loans secured by real estate mortgages--Sale of loans to Federal National Mortgage Association--Capital contributions.") 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 § 51A-4-29?
A common citation format is "South Dakota Codified Laws § 51A-4-29" (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 § 51A-4-29 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.