South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:07 - Agriculture enterprise programs
Chapter 12:07:12 - Rural development loans and participations
Section 12:07:12:21 - Lender's responsibilities for a participation loan

(1) Execute the initial loan and disburse the proceeds;

(2) Execute and retain the loan documentation and furnish a copy of the loan documentation to the office;

(3) Obtain and maintain documentation necessary for the perfection of a security interest and furnish copies to the office;

(4) Serve as the point of contact for the administration of the loan and the participation and apprise the office of the loan status; and

(5) Service and manage the loan and the participation in accordance with its usual practices and exercise the same degree of care as it does with other loans. The lender may request loan servicing assistance from the office.