The proceeds of the loan to be guaranteed may be used only for the purchase of livestock. The borrower shall have a maximum of 60 days from the date of the conditional approval of the guaranty to purchase the livestock.

Source: 17 SDR 141, effective March 25, 1991; 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: 1991-03-25.