54-13-15. Continuation of mediation--Expiration of mediation period--Agreement between borrower and creditors.
If the borrower and the initiating creditor consent, mediation may continue beyond the forty-two day mediation period with the same force and effect as though held within the forty-two day period. If no meeting is held within the forty-two day mediation period, absent a waiver thereof, extension, or further agreement between borrower and creditor, the expiration of the mediation period shall conclusively constitute a mediation release. The director of the agriculture mediation program shall so inform the borrower and creditors and certify accordingly.
Any agreement reached between borrower and creditors as a result of mediation shall be drafted into a written agreement. If signed by borrower and creditors, the agreement shall constitute a mediation release, and the mediator shall so certify on the agreement.
Source: SL 1988, ch 384, §15; SL 1991, ch 394, §11; SL 2001, ch 259, §12.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 13 - State Farm Mediation Board
Section 54-13-1 - Definition of terms.
Section 54-13-2 - Agriculture mediation program--Purposes--Administration.
Section 54-13-4 - Staff services--Employment of director and other employees--Payment of expenses.
Section 54-13-6 - Contracts with state agencies, nonprofit corporations, or individuals.
Section 54-13-7 - Assistance to borrower or creditor.
Section 54-13-10 - Mandatory mediation--Requirements--Voluntary mediation.
Section 54-13-12 - Length of mediation period--Notice to borrower--Additional meetings.
Section 54-13-14 - State or federal time periods deemed to run concurrently.
Section 54-13-16 - Statement of waiver or failure to reach agreement deemed release.
Section 54-13-17 - Time limitation on waiver by borrower.
Section 54-13-19 - Other rights and duties, penalties, and actions not affected.
Section 54-13-20 - Mediator or ag finance counselor immunity from civil liability--Qualifications.