South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:09 - HOUSING DEVELOPMENT AUTHORITY › Chapter 20:09:01 - Definitions › Section 20:09:01:01 - Definitions

Current through Register Vol. 51, page 10, July 15, 2024
Terms used in this article and not otherwise defined in the South Dakota Housing Development Act, SDCL chapter 11-11, mean:
(1) "Act," the South Dakota Housing Development Authority Act, SDCL chapter 11-11;
(2) "Administrative agent" or "mortgage lender," any bank or trust company, federal National Mortgage Association-approved mortgage banker, savings bank, industrial bank, credit union, national or state banking association, insurance company, or other financial institutions, federal or state savings and loan association licensed by the Division of Banking, or governmental entity which customarily provides service or otherwise aids in the financing of mortgages on residential housing located in the state which, through a contractual arrangement with the authority, accepts, reviews, screens, and investigates applications for assistance through or by the authority and which, through contractual arrangements with the authority, originates or services mortgage loans made with the authority's assistance;
(3) "Applicant," a corporation, partnership, limited partnership, limited liability company, joint venture, trust, firm, association, individual, public body, or other legal entity or any combination of them, applying for money, assistance, or services;
(4) "Application," a request for authority assistance made on forms furnished by the authority;
(5) "Assisted living center," an institution, rest home, boarding home, place, building, or agency which is maintained or operated to provide personal care and services which meet some need beyond basic provision of food, shelter, and laundry to five or more persons and which is licensed by the South Dakota Department of Health pursuant to SDCL chapter 34-12;
(6) "Board," the commissioners in whom the powers of the authority are vested;
(7) "Bond or note resolution," the action taken by the board authorizing the issuance of bonds or notes to provide financing for authority mortgage loans or assistance approved by the board;
(8) "Congregate housing," residential housing which provides a semi-independent living environment with central dining facilities (where at least one meal is provided seven days a week), related facilities, and supporting staff and services to persons of at least 62 years of age or with disabilities;
(9) "Executive director," the chief executive and administrative officer of the authority;
(10) "Rehabilitation," the repair or improvement of a residential housing unit to provide sanitary, decent, and safe residential housing; to meet the requirements for Federal Housing Administration (FHA) mortgage insurance, the South Dakota electrical code, article 20:44, or the South Dakota plumbing code, article 20:54; to increase energy efficiency; or to otherwise prevent the creation or recurrence of slum conditions and substandard housing;
(11) "Rental unit," residential housing unit intended for occupancy by a single family within an authority-financed housing development;
(12) "Reserve program," a program established by the authority which provides financing from various reserve accounts of the authority or from other financial resources available to the authority, excluding proceeds from the sale of bonds or notes pursuant to a bond or note resolution.
General Authority:
SDCL  11-11-30, 11-11-128,  11-11-141, 11-11-143,  11-11-180.
Law Implemented:
SDCL  11-11-2,  11-11-3(1),  11-11-3(4),  11-11-3(7),  11-11-5(12),  11-11-5(13),  11-11-5.1,  11-11-6,  11-11-7,  11-11-40, 11-11-110,  11-11-118,  11-11-119, 11-11-129(2),  11-11-134,  11-11-141.