ARSD 12:03:03:03.01 – Insurance deductible required for the purchase of equipment-minimal amount.

12 : 03 : 03 : 03.01 . Insurance deductible required for the purchase of equipment-minimal amount . If the loan is for the purpose of purchasing equipment, the insurance deductible may not exceed $5,000 except with prior commission approval. The commission may grant prior approval for an insurance deductible exceeding $5,000 when it is not possible or practical to insure the equipment for a lesser amount.

Source: 49 SDR 48, effective November 23, 2022 .

General Authority: SDCL 38-8-53 .

Law Implemented: SDCL 38-8-53 .