Borrower's responsibilities.
Effective Apr 14, 201945 SDR 31Source: 17 SDR 141, effective March 25, 1991; 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 .
Borrowers are responsible for the following actions:
- (1) Paying all fees incurred;
- (2) Identifying collateral;
- (3) Maintaining accounting records and management reports;
- (4) Submitting accounting records and management reports to the lender and the office upon request; and
- (5) Abiding by the terms and conditions as set forth in the loan documentation.
Source: 17 SDR 141, effective March 25, 1991; 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, 1991-03-25.