S.D. Admin. R. 70:14:01:13
Current through Register Vol. 51, page 54, October 28, 2024
The commission may determine a local government to be in default if the local government fails to comply with the requirements of the loan agreement or this chapter. The department will notify a local government at least fifteen calendar days prior to the commission's consideration of default. The local government will be afforded an opportunity to address the commission.
If the commission determines a local government has defaulted on the loan, the department shall provide written notice of the default to the local government.
S.D. Admin. R. 70:14:01:13
General Authority: SDCL 31-5-8.
Law Implemented: SDCL 31-5-8.