South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:22 - Agribusiness bonding and lending programs
Chapter 12:22:02 - Value added agribusiness relending program
Section 12:22:02:16 - Inspection of project by VAFA - Retention of records
Universal Citation: SD Admin Rules 12:22:02:16
Current through Register Vol. 51, page 43, September 23, 2024
During the term of the loan, the VAFA may inspect construction, inspect the operation of the project, and request the borrower to provide accounting records, payments, and invoices to ensure compliance with the terms of the loan agreement. The borrower shall retain accounting and tax records for the term of the loan or for a period of three years, whichever is longer. The VAFA may contract for project monitoring and servicing during the planning, construction, and operation of the business and project.
General Authority: SDCL 1-16E-24.
Law Implemented: SDCL 1-16E-8.
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