S.D. Admin. R. 74:05:08:13.01
The secretary shall review an application for completeness in accordance with the guidelines in § 74:05:08:13. The secretary shall notify the applicant within 30 days after the application deadline that the application is complete or incomplete. If the application is incomplete, the secretary shall identify in the notice those items required to complete the application. Except as addressed in §§ 74:05:08:13.02 and 74:05:08:13.03, the applicant has 20 days to provide additional information intended to complete an application. The secretary shall notify the applicant whether or not the resubmission or additional information is satisfactory to complete the application.
The secretary shall conduct an overall review of the applicant's financial status, the financial assistance approval criteria as identified in § 74:05:08:12, and the factors for principal forgiveness decision making as identified in § 74:05:08:12.02. The secretary shall prepare a summary of the applicant's financial status and may provide a copy to the board. This summary may include an analysis of all assets and liabilities and an analysis of the applicant's financial capability as documented by the most recent audit or financial statement. The secretary shall recommend approval or denial of financial assistance. The secretary's recommendation for approval of financial assistance may include awarding any combination of principal forgiveness, loan, or partial funding from this program or in combination with other programs.
S.D. Admin. R. 74:05:08:13.01
General Authority: SDCL 46A-1-60.3.
Law Implemented: SDCL 46A-1-60.1 to 46A-1-60.3.