Section 11-11-128 - Rules and regulations for loan transactions by authority.
11-11-128. Rules and regulations for loan transactions by authority. The authority shall from time to time adopt, modify, or repeal rules and regulations governing the making of loans to mortgage lenders and the purchase and sale of mortgage loans and the application of the proceeds thereof, including rules and regulations as to any or all of the following:
(1) Procedures for the submission of requests or the invitation of proposals for the purchase and sale of mortgage loans or for loans to mortgage lenders;
(2) Limitations or restrictions as to the number of family units, location, or other qualifications or characteristics of residences to be financed by such mortgage loans;
(3) Restrictions as to the interest rates on such mortgage loans or the return realized therefrom by mortgage lenders;
(4) Requirements as to commitments by mortgage lenders with respect to the application of the proceeds of such purchase or loan;
(5) Schedules of any fees and charges necessary to provide for expenses and reserves of the authority; and
(6) Any other matters related to the duties and the exercise of the powers of the authority under §§ 11-11-123 to 11-11-133, inclusive.
Source: SL 1973, ch 180, § 20 (4); SDCL Supp, § 28-19-110.