South Dakota Codified Laws 1-53-26. Compromise, adjustment, and collection of claims and obligations
Current as of: 2023 | Check for updates
|
Other versions
The commissioner of the Governor’s Office of Economic Development, with the approval of the Governor, is authorized and empowered to collect, compromise, adjust, or cancel claims and obligations arising out of or administered under §§ 1-53-23 to 1-53-37, inclusive, or under any mortgage, lease, contract, or agreement entered into or administered pursuant to §§ 1-53-23 to 1-53-37, inclusive, and, if in the commissioner’s judgment is necessary and advisable, pursue the same to final collection in any court having jurisdiction.
Terms Used In South Dakota Codified Laws 1-53-26
- Contract: A legal written agreement that becomes binding when signed.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1951, ch 4, § 5; SDC Supp 1960, § 4.0119(1); SDCL § 38-6-5; SL 2019, ch 235 (Ex. Ord. 19-1), § 45, eff. Apr. 14, 2019; SL 2023, ch 3, § 12.