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 12:07:12:20 - Subsequent loan requests
Current through Register Vol. 51, page 43, September 23, 2024
Loan recipients may apply for subsequent loans. Subsequent loans include additional loans, loan renewals, and loan extensions. Approval of subsequent loans is subject to the following:
(1) Sections 12:07:12:02 to 12:07:12:19, inclusive, of this chapter;
(2) A review of existing loan status and performance, including the provisions found in § 12:07:12:22 of this chapter;
(3) If the subsequent request is with the same lender, the office and the lender may mutually agree to add an amendment to an existing participation certificate and agreement or to include a reference to any existing participation certificate and agreement in a new participation certificate and agreement; and
(4) If the subsequent request is with another lender, any lender with whom another participation and agreement under this program exists with this application must be notified by the office within 10 days of receiving the application.
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.
