Subject to § 47-10-2, any business development credit corporation shall have the power to make secured or unsecured loans; but it is not the intention hereof to take from the lending institutions within the state any loans or commitments desired by such institutions generally in the ordinary course of their business.
S.D. Codified Laws § 47-10-4
Lending--Competition with lending institutions prohibited
Source: SL 1957, ch 314, § 2; SDC Supp 1960, § 55.6002 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.