Section 34A-14-2 - Definition of terms.
34A-14-2. Definition of terms. Terms used in §§ 34A-14-3 to 34A-14-26, inclusive, mean:
(1) "Authority," the Petroleum Environmental Compliance Authority created pursuant to this chapter;
(2) "Board," the board of directors of the authority;
(3) "Bonds," bonds, notes, and certificates, and bond, grant, or revenue anticipation notes or any other instrument representing an obligation to pay money;
(4) "Business enterprise," a work or improvement including, but not limited to, real property, buildings, equipment, furnishings, and any other real and personal property or any interest reconstructed, extended, rehabilitated, improved or equipped, directly or indirectly, in whole or in part, by the authority and which is designed and intended for the purpose of providing facilities for warehousing, commercial trade, including wholesale or retail trade, office, research, business, whether or not for profit, or other related purposes, including, but not limited to, machinery and equipment deemed necessary for the operation thereof which is used for the marketing and storage of petroleum products;
(5) "Lender," any federal or state chartered bank, federal land bank, production credit association, bank for cooperatives, federal or state chartered savings and loan association or building and loan association, federal savings bank, small business investment company or any other institution qualified within this state to originate and service loans, including insurance companies, credit unions, and mortgage loan companies;
(6) "Loan insurer" or "loan guarantor," an agency, department, administration or instrumentality, corporate or otherwise, or any private mortgage insurance company or any other public or private agency which insures or guarantees loans;
(7) "Petroleum marketing," the sale, transportation, or storage of petroleum products, including vehicles, gasoline stations, gasoline tank farms, and all other petroleum marketing and storage operations which are necessary for the furnishing of petroleum products to the citizens of South Dakota.
Source: SL 1988, ch 290, § 41; SL 1990, ch 292, § 23.