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 12:07:12:19 - Interest rate determination
Universal Citation: SD Admin Rules 12:07:12:19
Current through Register Vol. 51, page 43, September 23, 2024
Except as stated in § 12:07:12:18, the secretary may change the rate of interest per annum according to the following procedure:
(1) The secretary shall request recommendations for an interest rate from the review committee and the administrator;
(2) The secretary shall request information on current market rates;
(3) Within five working days, the secretary shall set the standard interest rate.
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.
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