S.D. Admin. R. 12:03:03:04

Current through Register Vol. 51, page 46, September 30, 2024

Section 12:03:03:04 - Disposition by commission

Within 90 days after the end of an application review period, the commission shall consider a loan application received during that review period. The application must be received at least 14 days before the meeting at which it will be considered, unless the commission declares an emergency.

After consideration, the commission shall:

(1) Approve the loan application, as submitted;

(2) Approve the loan application, as modified by either the district or the commission;

(3) Conditionally approve the loan application, subject to the receipt of specified information or the performance of certain acts by the district; or

(4) Deny the loan application.

If the loan application is denied, the commission shall notify the district of the grounds for the denial.

S.D. Admin. R. 12:03:03:04

11 SDR 59, effective 10/29/1984; 12 SDR 128, 12 SDR 154, effective 7/1/1986; 21 SDR 90, effective 11/14/1994; 49 SDR 049, effective 11/23/2022

General Authority: SDCL 38-8-53, 38-8-53.1.

Law Implemented: SDCL 38-8-53, 38-8-53.1.