<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE 34A-15 LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 34A-15 LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE "> <META NAME="Description" Content="South Dakota Codified Laws 34A-15"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 34A-15 <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-1">34A-15-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Legislative findings. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-2">34A-15-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definition of terms. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-3">34A-15-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Determination of owner or operator. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-4">34A-15-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Limitation on third-party liability for damage to property--Vesting of title. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-5">34A-15-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Conditions of limitations--Efforts to resell property. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-6">34A-15-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Exclusion for liability expressly created under federal or state laws. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-6.1">34A-15-6.1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> State brownfields revitalization and economic development program--Liability for costs of a response action or remediation--Limitation. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=34A-15-7">34A-15-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Effective date. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058703Normal { 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.s2058703SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058703CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058703Normal-000000 { 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.s2058703DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2058703Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2058703DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058703000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058703SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058703SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2058703Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-1"><span class="s2058703SENU">34A-15-1</span></a><span xml:space="preserve" class="s2058703SENU">. </span><span class="s2058703CL">Legislative findings.</span></p><p dir="ltr" class="s2058703Normal-000000"><span class="s2058703DefaultParagraphFont">The Legislature hereby finds, and declare to be the public policy of this state, that:</span></p><p dir="ltr" class="s2058703Normal-000001"><span class="s2058703DefaultParagraphFont">(1)    Environmental laws of the United States and this state provide that the owner of the real property is liable for the cleanup of property contamination and define who is the owner of such property;</span></p><p dir="ltr" class="s2058703Normal-000001"><span class="s2058703DefaultParagraphFont">(2)    If a borrower defaults on a loan, a lender must decide whether to foreclose and potentially become the owner. For fear of becoming liable for conditions they did not create, lenders are showing a reluctance to foreclose, thus leaving no one responsible for the cleanup. Additionally, lenders are reluctant to lend to certain types of businesses because of this potential liability;</span></p><p dir="ltr" class="s2058703Normal-000001"><span class="s2058703DefaultParagraphFont">(3)    So that lenders can predict with more certainty what the costs will be if they foreclose, it is the intent of the Legislature to limit third</span><span class="s2058703DefaultParagraphFont-000002">-</span><span class="s2058703DefaultParagraphFont">party liability for lenders who comply with certain conditions.</span></p><p dir="ltr" class="s2058703Normal"><span xml:space="preserve" class="s2058703000003"> </span></p><p dir="ltr" class="s2058703Normal"><span class="s2058703SCL">Source:</span><span xml:space="preserve" class="s2058703SCL-000004"> SL 1992, ch 261, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058704Normal { 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.s2058704SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058704CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058704Normal-000000 { 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.s2058704DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2058704Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2058704000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058704SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058704SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2058704Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-2"><span class="s2058704SENU">34A-15-2</span></a><span xml:space="preserve" class="s2058704SENU">. </span><span class="s2058704CL">Definition of terms.</span></p><p dir="ltr" class="s2058704Normal-000000"><span class="s2058704DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2058704Normal-000001"><span xml:space="preserve" class="s2058704DefaultParagraphFont">(1)    "Contaminate or pollute," "contaminating or polluting," or "contamination or pollution," contamination or pollution of air, water, real or personal property, livestock, wild animals, birds, fish, other aquatic life, or human beings from a location within the State of South Dakota, including contamination or pollution from hazardous waste, as defined in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-11-2"><span class="s2058704DefaultParagraphFont">34A-11-2</span></a><span class="s2058704DefaultParagraphFont">;</span></p><p dir="ltr" class="s2058704Normal-000001"><span class="s2058704DefaultParagraphFont">(2)    "Lender-owner," any person, partnership, limited liability company, corporation, association, organization, or other legal entity which by virtue of foreclosure, whether by action, advertisement, or voluntary, nonjudicial foreclosure, or upon receipts of an assignment, bill of sale, or deed in lieu of foreclosure, becomes the owner of real or personal property;</span></p><p dir="ltr" class="s2058704Normal-000001"><span class="s2058704DefaultParagraphFont">(3)    "Representative," any person, partnership, limited liability company, corporation, association, organization, or other legal entity acting in the capacity of a receiver, conservator, guardian ad litem, personal representative of a deceased person, or trustee or fiduciary of real or personal property. However, the terms trustee and fiduciary are limited to entities acting as trustee or fiduciary and which are charted by the State Division of Banking, the office of the United States comptroller of the currency, or the office of thrift supervision;</span></p><p dir="ltr" class="s2058704Normal-000001"><span class="s2058704DefaultParagraphFont">(4)    "Third parties," persons, partnerships, limited liability companies, corporations, associations, organizations, or legal entities other than governmental entities seeking to enforce federal, state, or local environmental statutes, ordinances, regulations, permits, or orders; and</span></p><p dir="ltr" class="s2058704Normal-000001"><span class="s2058704DefaultParagraphFont">(5)    "Third-party liability," liability to third parties for any claims arising out of or resulting from contamination or pollution, including claims for personal injury, consequential damages, lost profits, exemplary damages, or property damages.</span></p><p dir="ltr" class="s2058704Normal"><span xml:space="preserve" class="s2058704000002"> </span></p><p dir="ltr" class="s2058704Normal"><span class="s2058704SCL">Source:</span><span xml:space="preserve" class="s2058704SCL-000003"> SL 1992, ch 261, § 2; SL 1994, ch 351, § 75; SL 2011, ch 165, § 160.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058705Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058705SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058705CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058705Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058705DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058705000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058705SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058705SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2058705Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-3"><span class="s2058705SENU">34A-15-3</span></a><span xml:space="preserve" class="s2058705SENU">. </span><span class="s2058705CL">Determination of owner or operator.</span></p><p dir="ltr" class="s2058705Normal-000000"><span class="s2058705DefaultParagraphFont">No person, partnership, limited liability company, corporation, association, organization, or other legal entity may be deemed to be an owner or operator of real or personal property who, without participating in the management of the subject real or personal property, holds indicia of ownership primarily to protect a security or lien hold interest in the subject real or personal property or in the property in which the subject real or personal property is located.</span></p><p dir="ltr" class="s2058705Normal"><span xml:space="preserve" class="s2058705000001"> </span></p><p dir="ltr" class="s2058705Normal"><span class="s2058705SCL">Source:</span><span xml:space="preserve" class="s2058705SCL-000002"> SL 1992, ch 261, § 3; SL 1994, ch 351, § 76.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058706Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058706SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058706CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058706CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058706Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058706DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058706DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058706000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058706SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058706SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2058706Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-4"><span class="s2058706SENU">34A-15-4</span></a><span xml:space="preserve" class="s2058706SENU">. </span><span class="s2058706CL">Limitation on third</span><span class="s2058706CL-000000">-</span><span class="s2058706CL">party liability for damage to property--Vesting of title.</span></p><p dir="ltr" class="s2058706Normal-000001"><span class="s2058706DefaultParagraphFont">No lender</span><span class="s2058706DefaultParagraphFont-000002">-</span><span class="s2058706DefaultParagraphFont">owner or representative may by virtue of becoming the owner of real or personal property be liable for any third</span><span class="s2058706DefaultParagraphFont-000002">-</span><span class="s2058706DefaultParagraphFont">party liability arising from contamination or pollution emanating from the property before the date the title vests in the lender</span><span class="s2058706DefaultParagraphFont-000002">-</span><span class="s2058706DefaultParagraphFont">owner or representative. For the purposes of this chapter, the issuance of a sheriff's certificate of sale is not sufficient to vest title in the lender</span><span class="s2058706DefaultParagraphFont-000002">-</span><span class="s2058706DefaultParagraphFont">owner or representative.</span></p><p dir="ltr" class="s2058706Normal"><span xml:space="preserve" class="s2058706000003"> </span></p><p dir="ltr" class="s2058706Normal"><span class="s2058706SCL">Source:</span><span xml:space="preserve" class="s2058706SCL-000004"> SL 1992, ch 261, § 4.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058707Normal { 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.s2058707SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058707CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058707Normal-000000 { 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.s2058707DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058707DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2058707Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2058707Normal-000003 { text-indent: 0.25in; 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.s2058707000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058707SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058707SCL-000005 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2058707Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-5"><span class="s2058707SENU">34A-15-5</span></a><span xml:space="preserve" class="s2058707SENU">. </span><span class="s2058707CL">Conditions of limitations--Efforts to resell property.</span></p><p dir="ltr" class="s2058707Normal-000000"><span class="s2058707DefaultParagraphFont">No lender</span><span class="s2058707DefaultParagraphFont-000001">-</span><span class="s2058707DefaultParagraphFont">owner or representative may, by virtue of becoming the owner of real or personal property, be liable for any third</span><span class="s2058707DefaultParagraphFont-000001">-</span><span class="s2058707DefaultParagraphFont">party liability arising from contamination or pollution emanating from the property during the period of ownership so long as, and to the extent that:</span></p><p dir="ltr" class="s2058707Normal-000002"><span class="s2058707DefaultParagraphFont">(1)    The lender</span><span class="s2058707DefaultParagraphFont-000001">-</span><span class="s2058707DefaultParagraphFont">owner or representative does not knowingly cause new contamination or pollution or does not knowingly allow others to cause new contamination or pollution;</span></p><p dir="ltr" class="s2058707Normal-000002"><span class="s2058707DefaultParagraphFont">(2)    The lender</span><span class="s2058707DefaultParagraphFont-000001">-</span><span class="s2058707DefaultParagraphFont">owner has caused an environmental professional to conduct a visual inspection of the property and a record search of the recorded chain of title documents regarding the real property for the prior fifty years to determine the presence and condition of hazardous wastes or substances, obvious contamination, or pollution; and</span></p><p dir="ltr" class="s2058707Normal-000002"><span class="s2058707DefaultParagraphFont">(3)    The lender</span><span class="s2058707DefaultParagraphFont-000001">-</span><span class="s2058707DefaultParagraphFont">owner found by the enforcing agency to be in noncompliance with federal or state laws, takes steps to assure compliance with applicable laws.</span></p><p dir="ltr" class="s2058707Normal-000003"><span class="s2058707DefaultParagraphFont">This section applies to a lender</span><span class="s2058707DefaultParagraphFont-000001">-</span><span class="s2058707DefaultParagraphFont">owner or representative as long as he makes reasonable efforts to resell the property.</span></p><p dir="ltr" class="s2058707Normal"><span xml:space="preserve" class="s2058707000004"> </span></p><p dir="ltr" class="s2058707Normal"><span class="s2058707SCL">Source:</span><span xml:space="preserve" class="s2058707SCL-000005"> SL 1992, ch 261, § 5.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058708Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058708SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058708CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058708Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058708DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058708000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058708SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058708SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2058708Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-6"><span class="s2058708SENU">34A-15-6</span></a><span xml:space="preserve" class="s2058708SENU">. </span><span class="s2058708CL">Exclusion for liability expressly created under federal or state laws.</span></p><p dir="ltr" class="s2058708Normal-000000"><span xml:space="preserve" class="s2058708DefaultParagraphFont">Sections </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-3"><span class="s2058708DefaultParagraphFont">34A-15-3</span></a><span xml:space="preserve" class="s2058708DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-5"><span class="s2058708DefaultParagraphFont">34A-15-5</span></a><span class="s2058708DefaultParagraphFont">, inclusive, do not affect any liability expressly created under federal or state health or environmental statutes, regulations, rules, permits, or orders.</span></p><p dir="ltr" class="s2058708Normal"><span xml:space="preserve" class="s2058708000001"> </span></p><p dir="ltr" class="s2058708Normal"><span class="s2058708SCL">Source:</span><span xml:space="preserve" class="s2058708SCL-000002"> SL 1992, ch 261, § 6.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2082204Normal { 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.s2082204SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082204CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2082204Normal-000000 { 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.s2082204DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2082204DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2082204Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2082204Normal-000003 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2082204Normal-000004 { text-indent: 0.25in; 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.s2082204000005 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2082204DefaultParagraphFont-000006 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2082204SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2082204Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-6.1"><span class="s2082204SENU">34A-15-6.1</span></a><span xml:space="preserve" class="s2082204SENU">. </span><span class="s2082204CL">State brownfields revitalization and economic development program--Liability for costs of a response action or remediation--Limitation.</span></p><p dir="ltr" class="s2082204Normal-000000"><span xml:space="preserve" class="s2082204DefaultParagraphFont">Notwithstanding the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-6"><span class="s2082204DefaultParagraphFont">34A-15-6</span></a><span class="s2082204DefaultParagraphFont">, a lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner is not liable for environmental, response, cleanup, or remediation costs at a brownfields site approved by the Department of Agriculture and Natural Resources for participation in the state brownfields revitalization and economic development program unless:</span></p><p dir="ltr" class="s2082204Normal-000002"><span class="s2082204DefaultParagraphFont">(1)    The lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner, its employees, or agents directly cause an immediate release or directly exacerbate a release of the regulated substances on or from the property or directly violate any environmental statute or regulation; or</span></p><p dir="ltr" class="s2082204Normal-000002"><span class="s2082204DefaultParagraphFont">(2)    The lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner, its employees, or agents knowingly and willfully compelled the borrower to:</span></p><p dir="ltr" class="s2082204Normal-000003"><span class="s2082204DefaultParagraphFont">(a)    Perform an action that caused an immediate release of regulated substances in excess of reportable quantities; or</span></p><p dir="ltr" class="s2082204Normal-000003"><span class="s2082204DefaultParagraphFont">(b)    Violate any environmental statute or regulation.</span></p><p dir="ltr" class="s2082204Normal-000004"><span class="s2082204DefaultParagraphFont">Liability pursuant to this section is limited to the cost for a response action or remediation that is directly attributable to the lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner's activities set forth in subdivisions (1) and (2) of this section. Liability arises only if the lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner's actions were the proximate cause of the release or violation. Ownership or control of the property pursuant to a security interest during or after foreclosure does not by itself result in liability. No lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner is liable for any response action or remediation if the response action or remediation arises solely from a release of regulated substances in excess of reportable quantities that occurred before or commences before and continues after foreclosure. However, the lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner is responsible for the portion of the response action or remediation that is directly attributable to the lender</span><span class="s2082204DefaultParagraphFont-000001">-</span><span class="s2082204DefaultParagraphFont">owner's aggravation of a release. A release of regulated substances in excess of reportable quantities discovered in the course of conducting environmental due diligence is presumed to be a prior or continuing release on the property.</span></p><p dir="ltr" class="s2082204Normal"><span xml:space="preserve" class="s2082204000005"> </span></p><p dir="ltr" class="s2082204Normal"><span xml:space="preserve" class="s2082204DefaultParagraphFont-000006">Source: </span><span xml:space="preserve" class="s2082204SCL">SL 2004, ch 228, § 1; SL 2021, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3"><span class="s2082204SCL">21-3</span></a><span class="s2082204SCL">), § 53, eff. Apr. 19, 2021.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 34A-15 - LIMITATION ON LIABILITY OF LENDERS FOR ENVIRONMENTAL DAMAGE </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2058710Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058710SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058710CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2058710Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2058710DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058710000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2058710SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2058710SCL-000002 { 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></head><body><div><p dir="ltr" class="s2058710Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=34A-15-7"><span class="s2058710SENU">34A-15-7</span></a><span xml:space="preserve" class="s2058710SENU">. </span><span class="s2058710CL">Effective date.</span></p><p dir="ltr" class="s2058710Normal-000000"><span class="s2058710DefaultParagraphFont">This chapter applies to civil actions filed on or after July 1, 1992.</span></p><p dir="ltr" class="s2058710Normal"><span xml:space="preserve" class="s2058710000001"> </span></p><p dir="ltr" class="s2058710Normal"><span class="s2058710SCL">Source:</span><span xml:space="preserve" class="s2058710SCL-000002"> SL 1992, ch 261, § 7.</span></p></div></body></html>