12:21:01:08Limitations on improvements and depreciable property.

Agricultural improvements and agricultural depreciable property that are to become a fixture or an integral part of real estate may be financed by the authority only if the beginning farmer: (1) Owns the real estate on which the property or improvement is to be located and the real estate is less than thirty percent of the median size farm in the county of residence; or (2) Has a lease to use the real estate for a term at least as long as the loan remains outstanding.

Source: 22 SDR 97, effective January 22, 1996; 35 SDR 67, effective September 30, 2008; 52 SDR 49, effective November 17, 2025.