South Dakota Administrative Rules
Title 68 - Tourism and State Development
Article 68:01 - Economic development finance authority
Chapter 68:01:02 - APEX loan program
Section 68:01:02:18 - Inspection of business by authority - Retention of records
Universal Citation: SD Admin Rules 68:01:02:18
Current through Register Vol. 51, page 43, September 23, 2024
During the term of the loan, the authority or GOED may inspect construction, inspect the operation of the business, 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 authority may contract for project monitoring and servicing during the planning, construction, and operation of the business and project.
General Authority: SDCL 1-16B-14(4).
Law Implemented: SDCL 1-16B-37, 1-16B-44, 1-16B-46.
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