S.D. Admin. R. 20:09:26:16
Current through Register Vol. 50, page 159, June 17, 2024
The maturity of a loan may not be more than ten years from the date of loan closing, with payments amortized over not more than twenty-five years. The authority shall establish the standard interest rate for loans from time-to-time and publish the rate on the authority's website. The interest rate may not exceed the applicable federal rate published by the Internal Revenue Service pursuant to 26 U.S.C. § 1274(d), in effect on May 11, 2023, as of the date of the board's approval of an application.
S.D. Admin. R. 20:09:26:16
General Authority: SDCL 11-15-6.
Law Implemented: SDCL 11-15-1 to 11-15-5, inclusive.