The borrower shall submit to the board annually the following information:

1. (1) Employment report;
2. (2) Federal tax returns or periodic financial statements, or both, as requested by the board; and

3. (3) Other information which the board or GOED deems necessary to determine the financial condition of the borrower and conformance to loan covenants.

   The board may require that the financial statements be compiled, reviewed, or audited by an independent accountant at the borrower's expense.

Source: 34 SDR 68, effective September 13, 2007.

General Authority: SDCL 1- 16G-5 , 1-16G-8(5).

Law Implemented: SDCL 1- 16G-5 , 1-16G-8(5).