1-33B-21. Foreclosure to protect loans.
The Governor's Office of Economic Development may take title by foreclosure to any property given as security if such acquisition is necessary to protect any loan made under this chapter, and may sell, transfer, or convey any such property to any responsible buyer. If such sale, transfer, or conveyance cannot be effected with reasonable promptness, the office may, in order to minimize financial loss, and sustain employment, lease such property to a responsible tenant or tenants.
Source: SL 1991, ch 16, §9; SL 1994, ch 410 (Ex. Ord. 93-9), §17.
Structure South Dakota Codified Laws
Title 1 - State Affairs and Government
Chapter 33B - Energy Performance Contracts
Section 1-33B-1 - Definition of terms.
Section 1-33B-2 - Energy conservation measure defined--Inclusions--Limitation.
Section 1-33B-3 - Request for proposals defined.
Section 1-33B-3.1 - Guaranteed cost savings defined.
Section 1-33B-3.2 - Investment-grade energy audit defined.
Section 1-33B-3.3 - Measurement and verification defined.
Section 1-33B-3.5 - Evaluation of qualifications and proposals.
Section 1-33B-3.6 - Contract negotiation.
Section 1-33B-3.7 - Preparation of investment-grade energy audit.
Section 1-33B-3.8 - Contents of investment-grade energy audit.
Section 1-33B-3.9 - Costs of the investment-grade energy audit.
Section 1-33B-3.10 - Funds for payment of energy performance contract.
Section 1-33B-3.12 - Costs for measurement and verification.
Section 1-33B-3.13 - Annual guaranteed cost savings--Shortfall.
Section 1-33B-8 - Written guarantee--Bond--Payment period not to exceed fifteen years.
Section 1-33B-9 - Contracts not subject to chapter 5-18A.
Section 1-33B-10 - Documentation of guaranteed savings--Deficiency paid by qualified provider.
Section 1-33B-11 - Executory contract clause--Liability of governmental unit.
Section 1-33B-12 - Continuance of contract--Payments.
Section 1-33B-13 - Termination of contract--Notice--Return of equipment or improvement.
Section 1-33B-14 - Functions of Governor's Office of Economic Development.
Section 1-33B-15 - Promulgation of rules.
Section 1-33B-16 - Powers of Governor's Office of Economic Development.
Section 1-33B-20 - Loans for analysis and installation of energy conservation measures.
Section 1-33B-21 - Foreclosure to protect loans.
Section 1-33B-22 - Disbursements from energy conservation special revenue fund.
Section 1-33B-23 - Parties to whom loans authorized.
Section 1-33B-24 - Acquisition, lease, and sale of energy saving equipment.