11-7-71. Receivership remedy preserved for obligee on housing project--Acquisition of redevelopment property on default by purchaser or lessee.
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/sd/title-11/chapter-11-7/11-7-71A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Nothing contained in §§ 11-7-1 to 11-7-70 , inclusive, shall be construed as limiting the power of a commission:
(1)With respect to a housing project, to vest in an obligee the right, in the event of a default by the commission, to take possession thereof or cause the appointment of a receiver thereof, free from all the restrictions imposed by said sections; or
(2)With respect to a redevelopment project, in the event of a default by a purchaser or lessee of land, to acquire the property and operate, sell, or lease it free from such restrictions.