S.D. Admin. R. 12:07:12:10

Current through Register Vol. 51, page 67, December 16, 2024

Section 12:07:12:10 - Application process

The application process for loans under this chapter is as follows:

(1) The applicant shall apply to an eligible lender for a participation loan for the project;

(2) The applicant must use the application form provided by the office. The lender may require the applicant to use the lender's application form in addition;

(3) The applicant shall provide any necessary additional office application documentation as mutually agreed upon and requested by the lender and the administrator;

(4) The lender shall submit the application form and required application documentation to the office;

(5) If applying for a direct or bridge loan, the documentation and application will be submitted by the applicant directly to the office.

S.D. Admin. R. 12:07:12:10

17 SDR 141, effective 3/25/1991; 38 SDR 45, effective 9/22/2011; 45 SDR 031, effective 9/13/2018

General Authority: SDCL 38-6-8.1.

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