South Dakota Statutes
§ 54-13-15 — Continuation of mediation--Expiration of mediation period--Agreement between borrower and creditors.
If the borrower and the initiating creditor consent, mediation may continue beyond the forty - two day mediation period with the same force and effect as though held within the forty - two day period. If no meeting is held within the forty - two day mediation period, absent a waiver thereof, extension, or further agreement between borrower and creditor, the expiration of the mediation period shall conclusively constitute a mediation release. The director of the agriculture mediation program shall so inform the borrower and creditors and certify accordingly. Any agreement reached between borrower and creditors as a result of mediation shall be drafted into a written agreement. If signed by borrower and creditors, the agreement shall constitute a mediation release, and the mediator shall so
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South Dakota § 54-13-15 (Continuation of mediation--Expiration of mediation period--Agreement between borrower and creditors.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1988, ch 384, § 15; SL 1991, ch 394, § 11; SL 2001, ch 259, § 12.
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.