No bond proceeds may be used for an unqualified purpose or by an unqualified user. Following disbursement of the bond proceeds, the authority may require the lender and the beginning farmer to certify to the authority that the proceeds were used by a qualified beginning farmer for a qualified purpose.

Source: 22 SDR 97, effective January 22, 1996 ; 52 SDR 49, effective November 17, 2025 .

General Authority: SDCL 1 -16B-70 .

Law Implemented: SDCL 1-16B-57 , 1-16B-58 .

Prior versions effective: 1996-01-22.