South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:03 - State conservation commission
Chapter 12:03:03 - Conservation district special revenue fund
Section 12:03:03:03 - Criteria for commission review of loan application

Universal Citation: SD Admin Rules 12:03:03:03

Current through Register Vol. 51, page 43, September 23, 2024

The commission shall review a loan application from a district and shall base its approval upon the following criteria:

(1) The proposed use of the funds;

(2) The consistency of the proposed use of the funds with SDCL chapter 38-8 and with promotion of sound conservation practices;

(3) The availability of moneys in the special revenue fund;

(4) The requested amount of funds and the term of the loan;

(5) The financial status of the district, as determined following a review by the commission or its agent;

(6) The adequacy of the proposed security, if any, for the loan.

General Authority: SDCL 38-8-53, 38-8-53.1.

Law Implemented: SDCL 38-8-53, 38-8-53.1.

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