<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 1-53-18 - Property given as security for loan.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s3c14fea3dfc54d06ba4c4284d0b15e35Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s3c14fea3dfc54d06ba4c4284d0b15e35SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s3c14fea3dfc54d06ba4c4284d0b15e35CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s3c14fea3dfc54d06ba4c4284d0b15e35Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s3c14fea3dfc54d06ba4c4284d0b15e35DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s3c14fea3dfc54d06ba4c4284d0b15e35000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s3c14fea3dfc54d06ba4c4284d0b15e35NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s3c14fea3dfc54d06ba4c4284d0b15e35DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s3c14fea3dfc54d06ba4c4284d0b15e35SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 1-53-18 - Property given as security for loan."><meta property="og:description" content="SDLRC Codified Law 1-53-18 - Property given as security for loan."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=1-53-18"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s3c14fea3dfc54d06ba4c4284d0b15e35Normal"><a href="https://sdlegislature.gov/Statutes?Statute=1-53-18" rel="noopener"><span class="s3c14fea3dfc54d06ba4c4284d0b15e35SENU">1-53-18</span></a><span xml:space="preserve" class="s3c14fea3dfc54d06ba4c4284d0b15e35SENU">. </span><span class="s3c14fea3dfc54d06ba4c4284d0b15e35CL">Property given as security for loan.</span></p><p dir="ltr" class="s3c14fea3dfc54d06ba4c4284d0b15e35Statute"><span class="s3c14fea3dfc54d06ba4c4284d0b15e35DefaultParagraphFont">The Board of Economic Development may take title by foreclosure or transfer in lieu of foreclosure to any property given as security if the acquisition is necessary to protect or collect any small business credit initiative loan and may sell, transfer, or convey any such property to any responsible buyer.</span></p><p dir="ltr" class="s3c14fea3dfc54d06ba4c4284d0b15e35Normal"><span xml:space="preserve" class="s3c14fea3dfc54d06ba4c4284d0b15e35000000"> </span></p><p dir="ltr" class="s3c14fea3dfc54d06ba4c4284d0b15e35NoIndent"><span xml:space="preserve" class="s3c14fea3dfc54d06ba4c4284d0b15e35DefaultParagraphFont-000001">Source: </span><span class="s3c14fea3dfc54d06ba4c4284d0b15e35SCL">SL 2012, ch 15, § 4; SL 2022, ch 6, § 4.</span></p></div></body></html>