74:05:10:11.  Decision on applications by the board. Within 120 days after applications are presented to the board, the board shall either disapprove the application or by resolution approve the application as requested or as modified by the board. The board may award less than the amount requested in the application or may deny assistance. If the applicant is eligible for assistance from more than one program, the board may approve financial assistance under any of the programs or under a combination of more than one program. If financial assistance is approved from more than one program, the amount of assistance approved may not exceed the aggregate amount of funding requested. In determining any financial assistance, the board may consider the factors in § 74:05:10:10.

          The department shall notify each applicant in writing of the board's decision on the application.

          Source: 17 SDR 7, effective July 22, 1990; 19 SDR 61, effective October 25, 1992; 21 SDR 97, effective November 28, 1994; 23 SDR 12, effective July 30, 1996; 28 SDR 95, effective December 19, 2001; 36 SDR 208, effective June 28, 2010; 40 SDR 14, effective July 29, 2013.

          General Authority: SDCL 46A-1-84.

          Law Implemented: SDCL 46A-1-83, 46A-1-84.