S.D. Admin. R. 12:07:14:01

Current through Register Vol. 51, page 70, December 27, 2024

Section 12:07:14:01 - Definitions

Terms used in this chapter mean:

(1) "VALU," the value adding livestock underwriting program;

(2) "Lender," a federal or state-chartered bank, federal farm credit system, savings and loan association, building and loan association, mortgage company that is a part of a bank holding company, credit union, or an insurance company that is regulated by the National Association of Insurance Commissioners; and

(3) "Guaranty," an agreement between the South Dakota Department of Agriculture and the lender by which the department agrees to be responsible for a percentage of the borrower's default.

S.D. Admin. R. 12:07:14:01

17 SDR 141, effective 3/25/1991.

General Authority: SDCL 38-6-8.1.

Law Implemented: SDCL 38-6-3, 38-6-8.