S.D. Admin. R. 68:02:01:50
Current through Register Vol. 51, page 67, December 16, 2024
The GOED shall perform the administrative functions of the creation, processing, and review of loan applications; the preparation and negotiation of loan agreements; the review of the financial status of an applicant; loan servicing; and other functions necessary to expedite and assist it in the performance of its duties. Notwithstanding any assurance, guarantee, communication, or representation made to the contrary, there is no commitment of the REDI fund without specific authorization by the board. Only the board may make an award from the REDI fund to an applicant.
S.D. Admin. R. 68:02:01:50
General Authority: SDCL 1-16G-5, 1-16G-8(5)(7).
Law Implemented: SDCL 1-16G-5, 1-52-3.2, 1-52-3.3, 1-52-5.