Section 11-11-137 - Actions on loans granted by authority.
11-11-137. Actions on loans granted by authority. The authority shall have the power, as necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, to institute any action or proceeding against any housing sponsor or persons and families receiving a loan under the provisions hereof, or owning any housing development or housing project hereunder in any court of competent jurisdiction in order to enforce the provisions of this chapter or the terms and provisions of any agreement or contract between the authority and such recipients of loans under the provisions hereof, or to foreclose its mortgage, or to protect the public interest, the occupants of the housing development, or the stockholders or creditors of such sponsor.
Source: SL 1973, ch 180, § 14 (5); SDCL Supp, § 28-19-118; SL 1983, ch 106, § 4AA.