Criteria for commission review of loan extension or modification request.
Effective Nov 23, 202249 SDR 48Source: 11 SDR 59, effective October 29, 1984; 12 SDR 128, 12 SDR 154, effective July 1, 1986 ; 49 SDR 48, effective November 23, 2022 . | General Authority: SDCL 38-8-53 . | Law Implemented: SDCL 38-8-53 .
The commission shall review a request for an extension or modification of the terms of a loan and shall consider:
- (1) The reason for the request;
- (2) The status of the current loan;
- (3) The financial history of the current loan;
- (4) The security for the current loan and for the request, if any; and
- (5) The availability of funds in the revolving fund.
Source: 11 SDR 59, effective October 29, 1984; 12 SDR 128, 12 SDR 154, effective July 1, 1986 ; 49 SDR 48, effective November 23, 2022 .
General Authority: SDCL 38-8-53 .
Law Implemented: SDCL 38-8-53 .
Prior versions effective: 1986-07-01.