Definitions.
Effective Apr 14, 201945 SDR 31Source: 17 SDR 141, effective March 25, 1991; 38 SDR 45, effective September 22, 2011 ; 45 SDR 31, effective September 13, 2018 ; SL 2019, ch 235, § 37 and 38, effective April 14, 2019. | General Authority: SDCL 1-53-30 . | Law Implemented: SDCL 1-53-24 , 1-53-29 .
Terms used in this chapter mean:
- (1) "Lender," as defined in SDCL 54-3-14; and
- (2) "Participation," the portion or share of a loan which one lender purchases from another lender;
- (3) "Bridge Loan," a short term loan made with the intent of being bought by USDA or another lender;
- (4) "USDA," the United States Department of Agriculture; and
- (5) "Office," the agricultural enterprise program; Governor's Office of Economic Development.
Source: 17 SDR 141, effective March 25, 1991; 38 SDR 45, effective September 22, 2011 ; 45 SDR 31, effective September 13, 2018 ; SL 2019, ch 235, § 37 and 38, effective April 14, 2019.
General Authority: SDCL 1-53-30 .
Law Implemented: SDCL 1-53-24 , 1-53-29 .
Prior versions effective: 2018-09-13, 2011-09-22.