In the event of a judgment against any housing sponsor in any action not pertaining to the foreclosure of a mortgage, there shall be no sale of any of the real property included in any housing development hereunder of such housing sponsor except upon sixty days' written notice to the authority. Upon receipt of such notice the authority shall take such steps as in its judgment may be necessary to protect the rights of all parties.
S.D. Codified Laws § 11-11-140
Notice to authority before sale of real property on judgment against housing sponsor--Protective steps taken by authority
Known as the South Dakota Housing Development Authority Act
The act spans §§ 11-11-1 to 11-11-99 (141 sections).
Source: SL 1973, ch 180, § 16; SDCL Supp, § 28-19-121.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.