Section 11-11-134 - Purchase of federally insured housing mortgages. - South Dakota Statutes

11-11-134. Purchase of federally insured housing mortgages. The authority shall have the power, as necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, to make commitments to purchase, and to purchase, service, and sell federally insured mortgages and to make loans directly upon the security of any such mortgage, provided the underlying mortgage loans shall have been made and shall continue to be used solely to finance or refinance the construction, rehabilitation, purchase, or leasing of residential housing in this state.

Source: SL 1973, ch 180, § 17 (3); SDCL Supp, § 28-19-115; SL 1983, ch 106, § 4Z.