S.D. Admin. R. 12:07:20:10
Current through Register Vol. 51, page 67, December 16, 2024
The guaranty amount may not exceed 50 percent of the original principal amount of the executed note or $10,000, whichever is less, and shall be reduced on a pro rata basis as the remaining principal balance is reduced. Accordingly, the maximum amount that may be paid is 50 percent of the outstanding principal amount at the time of default.
S.D. Admin. R. 12:07:20:10
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.