<html> <head> <title>Rule 06:01:04:07 Mortgages to be controlled by trustee.</title> <META NAME="Keywords" Content="Administrative Rules 06:01:04:07"> <META NAME="Description" Content="Administrative Rules 06:01:04:07 Mortgages to be controlled by trustee."> <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>6:01:04:07.&nbsp;&nbsp;Mortgages to be controlled by trustee.</b> Mortgages serving as collateral for an issue of securities shall be under the control of a trustee incorporated under the laws of the United States, any state, or the District of Columbia. Such mortgages shall not be under the direct control of the issuer of the securities.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 9 SDR 53, effective November 3, 1982.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-5-28">4-5-28.</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=4-5-28">4-5-28.</A></p> </div> </body> </html>