70:05:03:12.  Maturity and interest rate. The board shall set the maturity of the loan, and any interest rates, either fixed or variable, over the term of the loan.

    The board may consider the following in setting the interest rate:

    (1)  State and national market interest rates;

    (2)  State and national economic conditions;

    (3)  The solvency and balance of the fund; and

    (4)  Other economic or business information determined by the board to be relevant.

    Source: 19 SDR 107, effective January 24, 1993; 49 SDR 47, effective November 21, 2022.

    General Authority: SDCL 49-16C-3.

    Law Implemented: SDCL 49-16C-3, 49-16C-4.