6:04:01:06. Repayment of award and interest. Repayments are to be made in the following manner:
(1) Payments are due on the first day of the month starting in the month which immediately follows 60 days after notification to the recipient of a violation of the contract provisions;
(2) Payments must be made monthly to the office of the state treasurer; and
(3) Minimum monthly payments are $250 or 1/60 of the deferred principal amount of the award plus accrued interest, whichever is greater.
If the account is delinquent 120 days following the date the payment is due, the account shall be referred to a collection agency.
Source: 18 SDR 224, effective July 14, 1992; 24 SDR 95, effective January 18, 1998.
General Authority:SDCL 13-49-20.11.
Law Implemented:SDCL 13-49-20.7, 13-49-20.8.
6:04:01:06.01. Procedures for forwarding delinquent account to collection agency -- Commencement of civil action. If any payment is late by more than 30 days after the date the payment is due pursuant to the promissory note, the state treasurer shall notify the recipient in writing that if payment is not received within 90 days, the recipient's account shall be referred to a collection agency.
If the account is forwarded to a collection agency for reason of nonpayment and the recipient fails to pay the collection agency, the state treasurer shall notify the recipient that if final payment for the full amount of the tuition awards is not received within 30 days of sending this notice, the state treasurer shall commence a civil action at a time fixed by the state treasurer and subscribing a summons and directing it, with or without complaint, to the recipient. If the recipient is a minor, the state treasurer shall also commence civil action on the recipient's parent or guardian.
If after 30 days from the date the state treasurer sent written notice to the recipient of intent to bring civil action or the recipient fails to repay the tuition award, the state treasurer shall commence action by service of summons on the recipient as provided in SDCL 15-2-30 and 15-2-31.
Source: 24 SDR 95, effective January 18, 1998.
General Authority:SDCL 13-49-20.11.
Law Implemented:SDCL 13-49-20.7, 13-49-20.8.
6:04:01:06.02. Payment schedule for early contract violation or if
recipient withdraws. If it is determined a recipient has violated the
contract within one year after graduating or if the recipient withdrew from the
college of veterinary medicine, the recipient shall begin payment of the
tuition amount and interest no later than the thirteenth month after receiving
a degree or withdrawing from the college program.
Source:
24 SDR 95, effective January 18, 1998.
General
Authority: SDCL 13-49-20.11.
Law
Implemented: SDCL 13-49-20.8.
