If a housing development or residential housing unit is financed by an authority mortgage loan which is, in whole or in part, a federally insured mortgage or is otherwise assisted by the federal government, the authority's action in authorizing or refusing such an authority mortgage loan shall bind the applicant to the rules governing the federal program.

Source: SL 1975, ch 16, § 1; 2 SDR 31, effective October 30, 1975; 4 SDR 29, effective November 16, 1977; transferred from § 45:01:04:03, effective July 1, 1979; 6 SDR 98, effective April 6, 1980; 10 SDR 4, effective July 27, 1983; 12 SDR 151, 12 SDR 155, effective July 1, 1986; SL 2012, ch 79, § 12, effective July 1, 2012.

General Authority: SDCL 11-11-30 , 11-11-128, 11-11-141 , 11-11-143, 11-11-165, 11-11-168, 11-11-180.

Law Implemented: SDCL 11-11-3(5) , 11-11-34 , 11-11-35 , 11-11-40 , 11-11-142.