S.D. Admin. R. 12:07:12:18

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

Section 12:07:12:18 - Interest rates

The interest rate initially established shall remain constant during the existence of the loan unless otherwise provided in the loan documentation. The standard interest rate will be established by the secretary from time to time based on current market rates. Loans may deviate from the standard rate based on collateral, risk, economic conditions and other prudent lending practices. Applicants meeting the definition of a small or beginning farmer may receive lower than the standard rate.

17 SDR 141, effective 3/25/1991; 19 SDR 93, effective 1/1/1993; 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.