54-1-9."Securitization" defined.
For purposes of §§54-1-9 and 54-1-10, a securitization is the pooling and repackaging by a special purpose entity of assets or other credit exposures that can be sold to investors. Securitization includes transactions that create stratified credit risk positions whose performance is dependent upon an underlying pool of credit exposures, including loans and commitments.
Source: SL 2003, ch 241, §1.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 01 - Definitions And General Provisions
Section 54-1-1 - Definition of terms--Debtor--Creditor.
Section 54-1-2 - Loan of money defined.
Section 54-1-3 - Debtor's contract valid in the absence of fraud.
Section 54-1-4 - Preference of creditors by debtor.
Section 54-1-5 - Marshaling of funds--Rights of creditor.
Section 54-1-6 - "Open account" defined.
Section 54-1-7 - Open account--Interest rates.
Section 54-1-8 - Open account--Notice of interest rate increase.