South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:07 - Agriculture enterprise programs
Chapter 12:07:14 - Value adding livestock underwriting
Section 12:07:14:01 - Definitions

Universal Citation: SD Admin Rules 12:07:14:01

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

Terms used in this chapter mean:

(1) "VALU," the value adding livestock underwriting program;

(2) "Lender," a federal or state-chartered bank, federal farm credit system, savings and loan association, building and loan association, mortgage company that is a part of a bank holding company, credit union, or an insurance company that is regulated by the National Association of Insurance Commissioners; and

(3) "Guaranty," an agreement between the South Dakota Department of Agriculture and the lender by which the department agrees to be responsible for a percentage of the borrower's default.

General Authority: SDCL 38-6-8.1.

Law Implemented: SDCL 38-6-3, 38-6-8.

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