S.D. Admin. R. 70:05:03:12

Current through Register Vol. 51, page 67, December 16, 2024

Section 70:05:03:12 - Maturity and interest rate

The maturity of the loan shall be set by the board, and interest may be either fixed or variable over the term of the loan.

The board shall set the interest rates. The board may consider the following in setting the interest rate:

(1) State and national market interest rates;

(2) State and national economic conditions;

(3) The solvency and balance of the fund; and

(4) Other economic or business information determined by the board to be relevant.

S.D. Admin. R. 70:05:03:12

19 SDR 107, effective 1/24/1993; 49 SDR 047, effective 11/21/2022

General Authority: SDCL 49-16C-3, 49-16C-4.

Law Implemented: SDCL 49-16C-3, 49-16C-4.