The authority may purchase loans made by administrative agents to eligible applicants for single-family residential housing units. The board will provide mortgage capital in the amounts to which the administrative agent commits itself through a contract with the authority.

Source: SL 1975, ch 16, § 1; 2 SDR 31, effective October 30, 1975; 5 SDR 79, effective March 29, 1979; transferred from § 45:01:05:03, 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, § 13, 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) , 11-11-7 , 11-11-34 , 11-11-35 , 11-11-40 , 11-11-43 , 11-11-52 , 11-11-106, 11-11-110 , 11-11-148 , 11-11-151.