Encumbrance on leased land
(1) An encumbrance may not be placed upon the state's interest in land leased for commercial purposes.
(2) A commercial lease of state trust land may contain provisions that will permit the encumbering of the lessee's interest in the lease by mortgage or deed of trust.
| EnactedEn. SectionSec. 10, ChapterCh. 404, Laws ofL. 2003 (SB 137 - DePratu, Bob (R) SD 40) |