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

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

Section 12:07:14:07 - Guaranty decision process

Upon receipt of the application and loan documentation, the administrator shall take the following action:

(1) Review the application and application documentation for completeness and for project feasibility;

(2) Base actions on the following criteria:

(a) The application meets the requirements contained in this chapter;

(b) The applicant meets the requirements contained in this chapter;

(c) The lender meets the requirements contained in this chapter;

(3) Recommend approval of the application as presented, conditional approval of the application subject to modification or performance of certain actions, or disapproval of the application and submit the application to the secretary.

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

17 SDR 141, effective 3/25/1991.

General Authority: SDCL 38-6-8.1.

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