13-39A-26. Security for payments by LEA or board under lease-purchase agreements.
The board may contract with or enter into other agreements with the South Dakota Health and Educational Facilities Authority, any LEA, the state treasurer, or others in order to pledge or otherwise transfer all or any portion of tuition and other student fees subject to deposit in the tuition subaccount in order to secure payments by any LEA or the board under a lease-purchase agreement with the authority. A contract or other agreement may also provide for the release from pledge and lien of any amounts determined to be unnecessary for payment of amounts currently owed under any lease-purchase agreement. Any pledge of tuition and other student fees are valid and binding from the time the pledge is made. The amount of tuition and other fees pledged and thereafter received shall immediately be subject to the lien of pledge without any physical delivery thereof or further act. The lien of the pledge is valid and binding against the LEA and any other person having any claim of any kind in tort, contract, or otherwise against the LEA, the board, the authority, the state treasurer, or any other person, irrespective of whether the person has notice of the claim. Neither the contract nor any other agreement or instrument creating a pledge needs to be recorded.
Source: SL 2017, ch 81, ยง26.
Structure South Dakota Codified Laws
Chapter 39A - South Dakota Board Of Technical Education
Section 13-39A-1 - Definitions.
Section 13-39A-2 - South Dakota Board of Technical Education--Creation.
Section 13-39A-3 - Political party membership.
Section 13-39A-4 - Terms of members.
Section 13-39A-6 - President--Meetings.
Section 13-39A-7 - Majority vote required--Minutes.
Section 13-39A-8 - Member compensation and expenses.
Section 13-39A-9 - Board members--No technical college employees.
Section 13-39A-10 - Executive director.
Section 13-39A-11 - Local governing bodies--Retain powers not given to board.
Section 13-39A-12 - Tuition and fees.
Section 13-39A-13 - Annual state funding requests.
Section 13-39A-14 - Management policies, goals, and objectives.
Section 13-39A-15 - New construction or major renovation of facilities.
Section 13-39A-16 - Additional duties of board.
Section 13-39A-17 - Accreditations.
Section 13-39A-18 - Promulgation of rules.
Section 13-39A-19 - Successor to Board of Education Standards on agreements.
Section 13-39A-20 - Performance of agreements.
Section 13-39A-21 - Apportionment and distribution of funds to LEAs.
Section 13-39A-22 - Distribution of funds to technical colleges.
Section 13-39A-23 - Separate accounting and funds by LEAs.
Section 13-39A-25 - Provisions of lease-purchase agreements.
Section 13-39A-26 - Security for payments by LEA or board under lease-purchase agreements.
Section 13-39A-27 - Technical colleges facilities fund.
Section 13-39A-28 - Tuition subaccount.
Section 13-39A-29 - Technical college equipment fund.
Section 13-39A-30 - Payment of obligations under lease-purchase agreement.
Section 13-39A-31 - Petition to establish technical college.
Section 13-39A-32 - Recommendation of petition to Legislature.
Section 13-39A-33 - Legislative approval of petition.
Section 13-39A-35 - Petition to establish technical college as distinct separate LEA.
Section 13-39A-36 - Board governing distinct separate LEA.
Section 13-39A-37 - Terms of board members.
Section 13-39A-38 - Appointment of members.
Section 13-39A-40 - Confidentiality of student information.
Section 13-39A-41 - Administrative rules not affected.
Section 13-39A-42 - State support of four technical colleges.