12:03:03:03.01Insurance deductible required for the purchase of equipment-minimal amount.

If the loan is for the purpose of purchasing equipment, the insurance deductible may not exceed $5,000 except with prior commission approval. The commission may grant prior approval for an insurance deductible exceeding $5,000 when it is not possible or practical to insure the equipment for a lesser amount.

Source: 49 SDR 48, effective November 23, 2022.