54-1-9.'Securitization' defined.For purposes of §§54-1-9 and 54-1-10, a securitization is the pooling and repackaging by a special purpose entity of assets or other credit exposures that can be sold to investors. Securitization includes transactions that create stratified credit risk positions whose performance is dependent upon an underlying pool of credit exposures, including loans and commitments. Source: SL 2003, ch 241, §1.
South Dakota Legal Code