<html> <head> <title>Rule 20:09:06:04 Mortgage or other authority financing terms.</title> <META NAME="Keywords" Content="Administrative Rules 20:09:06:04"> <META NAME="Description" Content="Administrative Rules 20:09:06:04 Mortgage or other authority financing terms."> <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>20:09:06:04.&nbsp;&nbsp;Mortgage or other authority financing terms.</b> Authority permanent mortgage loans or other authority financing may be made for terms of up to 40 years. The term of any authority mortgage loan or other authority financing, the date for the commencement of the amortization of the principal amount, the amortization period, terms of repayment or prepayment, and other terms and conditions of the loan must be specified in the mortgage documents.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> SL 1975, ch 16, §&nbsp;1; 2 SDR 31, effective October 30, 1975; transferred from §&nbsp;45:01:06:04, 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; 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=11-11-165">11-11-165</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-168">11-11-168</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=11-11-106">11-11-106</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-110">11-11-110</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-141">11-11-141</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-142">11-11-142</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-149">11-11-149</A> to <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=11-11-151">11-11-151.</A></p> </div> </body> </html>