South Dakota Administrative Rules
Title 70 - Department of Transportation
Article 70:05 - State Railroad Board
Chapter 70:05:03 - Railroad trust fund loans
Section 70:05:03:14 - Default on loan agreement
Universal Citation: SD Admin Rules 70:05:03:14
Current through Register Vol. 50, page 114, March 25, 2024
If the borrower violates any of the terms of the loan agreement, the board may place the borrower in default. Upon default, the board may declare due and payable the entire principal amount then outstanding and the accrued interest or take any other action provided by law which is considered appropriate by the board to protect its interests.
General Authority: SDCL 49-16C-3.
Law Implemented: SDCL 49-16C-3.
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