§ 12:07:10:10

ARSD 12:07:10:10

Loan maturities.

Effective Mar 25, 199117 SDR 141Source: 12 SDR 117, effective January 19, 1986; 12 SDR 128, 12 SDR 154, effective July 1, 1986; 17 SDR 141, effective March 25, 1991. | General Authority: SDCL 38-6-8.1. | Law Implemented: SDCL 38-6-3 , 38-6-8.

The loan maturity shall be based on the purpose, the type and expected useful life of the equipment, and loan amount. The term may not exceed five years. There is no prepayment penalty.

Source: 12 SDR 117, effective January 19, 1986; 12 SDR 128, 12 SDR 154, effective July 1, 1986; 17 SDR 141, effective March 25, 1991.

General Authority: SDCL 38-6-8.1.

Law Implemented: SDCL 38-6-3 , 38-6-8.