Surety bonds and other assurances of payment and performance

If the authority is providing mortgage financing, the authority shall require the housing sponsor receiving a loan or its contractor to post surety bonds or other assurances of payment of labor and materials, and construction performance in such amounts as the authority may deem necessary and to execute such other assurances and guarantees as the authority may deem necessary. Source: SL 1973, ch 180 , § 19 (6); SDCL Supp, § 28-19-133; SL 1995, ch 80 , § 23; SL 2012, ch 78 , § 98. 11-11-156 to 11-11-160. Repealed by SL 2012, ch 78 , §§ 99 to 103.