S.D. Admin. R. 12:07:20:08

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

Section 12:07:20:08 - 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 producer-involved cooperative meets the requirements contained in § 12:07:20:03;

(b) The application meets the requirements contained in § 12:07:20:06;

(c) The applicant meets the requirements contained in § 12:07:20:04;

(d) The lender meets the requirements contained in § 12:07:20:05; and

(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 or the secretary's designee.

S.D. Admin. R. 12:07:20:08

25 SDR 95, effective 1/20/1999.

General Authority: SDCL 38-6-8.1.

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