S.D. Admin. R. 68:01:02:10
Current through Register Vol. 51, page 67, December 16, 2024
If the authority approves the loan application, the application shall then be sent to USDA RD for approval. Except as provided in this section, no loan agreement may be entered into unless USDA RD approves the loan.
If USDA RD rejects a loan application, the authority, in accordance with SDCL 1-16B-38, may approve the loan from authority funds or revolving funds that are not subject to an agreement between the authority and USDA RD if the loan meets the guidelines in this chapter.
S.D. Admin. R. 68:01:02:10
General Authority: SDCL 1-16B-14(4).
Law Implemented: SDCL 1-16B-37, 1-16B-41, 1-16B-43, 1-16B-46.