34A-15-4. Limitation on third-party liability for damage to property--Vesting of title.
No lender-owner or representative may by virtue of becoming the owner of real or personal property be liable for any third-party liability arising from contamination or pollution emanating from the property before the date the title vests in the lender-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-owner or representative.
Source: SL 1992, ch 261, ยง4.
Structure South Dakota Codified Laws
Title 34A - Environmental Protection
Chapter 15 - Limitation On Liability Of Lenders For Environmental Damage
Section 34A-15-1 - Legislative findings.
Section 34A-15-2 - Definition of terms.
Section 34A-15-3 - Determination of owner or operator.
Section 34A-15-4 - Limitation on third-party liability for damage to property--Vesting of title.
Section 34A-15-5 - Conditions of limitations--Efforts to resell property.
Section 34A-15-6 - Exclusion for liability expressly created under federal or state laws.