<html> <head> <title>Rule 20:09:01:02 Authority mortgage loan defined.</title> <META NAME="Keywords" Content="Administrative Rules 20:09:01:02"> <META NAME="Description" Content="Administrative Rules 20:09:01:02 Authority mortgage loan defined."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:09:01:02.&nbsp;&nbsp;Authority mortgage loan defined.</b> An authority mortgage loan is a mortgage loan authorized by resolution or by a mortgage loan commitment and issued on behalf of the authority to a housing sponsor for the purpose of providing construction financing or long-term financing, or both, for a housing development or to a person or family for residential housing. In addition, the loan is made in whole or in part from the proceeds of sale of the authority's notes or bonds and any other available funds, including a mortgage loan involving participation by the authority with one or more mortgage lenders.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 6 SDR 98, effective April 6, 1980; 10 SDR 4, effective July 27, 1983; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 22 SDR 64, effective November 12, 1995.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-30">11-11-30</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-128">11-11-128</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-141">11-11-141</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-143">11-11-143</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-180">11-11-180.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-2">11-11-2</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-3">11-11-3(1)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-3">11-11-3(4)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-3">11-11-3(7)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-5">11-11-5(13)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-6">11-11-6</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-7">11-11-7</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-30">11-11-30</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-40">11-11-40</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-110">11-11-110</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-118">11-11-118</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-119">11-11-119</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-129">11-11-129(2)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-134">11-11-134.</A></p> </div> </body> </html>