70:05:03:12Maturity and interest rate.

Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗

Rulemaking activity

• 70:05:01:01 – Terms • 70:05:01:02 – Meetings and quorum • 70:05:01:03 – Declaratory rulings • 70:05:01:04 – Approval of division action. • 70:05:01:05 – Adoption of guidelines for property management – Notice required. • 70:05:02:16 – Record of income • 70:05:03:01 – Definitions • 70:05:03:03 – Application requirements • 70:05:03:04 – Equity contribution • 70:05:03:05 – Permissible uses of loan proceeds • 70:05:03:06 – Factors for board action • 70:05:03:07 – Acceptance and time restrictions of applicant • 70:05:03:08 – Loan agreement • 70:05:03:09 – Borrower reporting requirements • 70:05:03:10 – Inspection of the borrower by the board and retention of records • 70:05:03:11 – Additional notification requirements • 70:05:03:12 – Maturity and interest rate • 70:05:03:13 – Review of financial status • 70:05:03:15 – Delegation of administrative functions • 70:05:04:01 – Deadline for submission of information for railroad tax credit – Application form – Information required.Effective

The board shall set the maturity of the loan, and any interest rates, either fixed or variable, over the term of the loan. The board may consider the following in setting the interest rate: (1) State and national market interest rates; (2) State and national economic conditions; (3) The solvency and balance of the fund; and (4) Other economic or business information determined by the board to be relevant.

Source: 19 SDR 107, effective January 24, 1993; 49 SDR 47, effective November 21, 2022.

General Authority

SDCL 49-16C-3 ↗

Law Implemented

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