Section 11-11-110 - Mortgage loans to finance construction or rehabilitation of housing. - South Dakota Statutes

11-11-110. Mortgage loans to finance construction or rehabilitation of housing. The authority shall have the power, as necessary or convenient to carry out and effectuate the purpose and provisions of this chapter, to make, undertake commitments to make, and participate in the making of mortgage loans, including without limitation federally insured mortgage loans and to make temporary mortgage loans and advances in anticipation of permanent mortgage loans to be made by the authority or other mortgage lenders to housing sponsors to finance the construction or rehabilitation of residential housing upon the terms and conditions set forth in §§ 11-11-143 to 11-11-162, inclusive.

Source: SL 1973, ch 180, § 14 (1); SDCL Supp, § 28-19-101; SL 1980, ch 204, § 6; SL 1983, ch 106, § 4M; SL 1995, ch 80, § 16.