Unless waived by the affirmative vote of two-thirds of the members of the board present and voting, the total amount of a loan made pursuant to this chapter may not exceed $100,000. Unless waived by the affirmative vote of two-thirds of the members of the board present and voting, a VASF loan may not exceed 45% of the total cost of the study. Matching funds may not include grant or loan funds from another agency or grant or loan program of the state.

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

General Authority: SDCL 1-16G-5 , 1-16G-8(10).

Law Implemented: SDCL 1-16G-5 , 1-16G-8(10) , 1-16G-25 to 1-16G-27 , inclusive.