South Dakota Statutes
§ 54-12-22 — Reverse mortgage loan payment--Undisbursed reverse mortgage funds.
South Dakota § 54-12-22
This text of South Dakota § 54-12-22 (Reverse mortgage loan payment--Undisbursed reverse mortgage funds.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 54-12-22 (2026).
Text
A reverse mortgage loan payment made to a borrower is treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under means - tested programs of aid to individuals. Undisbursed reverse mortgage funds shall be treated as equity in a borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under means - tested programs of aid to individuals. This section applies to any law or program relating to payments, allowances, benefits, or services provided on a means - tested basis by this state, including supplemental security income, low - income energy assistance, property tax relief, medical assistance, and general assistance.
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Legislative History
SL 1997, ch 276, § 3.
Nearby Sections
15
§ 54-1-2
Loan of money defined.§ 54-1-6
"Open account" defined.§ 54-1-7
Open account--Interest rates.§ 54-1-9
"Securitization" defined.§ 54-10-1
Definition of terms.§ 54-10-10
Value of security, determination by liquidator's sale of assets--Order of sale, requirements.§ 54-10-13
Uniformity of interpretation of chapter.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 54-12-22, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/54-12-22.