12:20:01:08.  Response to notice. A recipient of a notice of a request for mediation shall indicate the intent to mediate by responding in writing to the director within 10 days after the notice was postmarked. If the borrower agrees to mediation the borrower shall provide to the director the name, address, and telephone number of any other creditor or creditors to whom there is indebtedness. Upon receipt of the responding party's written intent to mediate, the director shall schedule a mediation session.

          If the borrower waives the rights of mediation, the borrower shall execute the waiver of mediation form and return it to the director within 10 days. A borrower who fails to respond to the director within 21 days of the postmarked date of notice is considered to have waived mediation. Once the respondent has waived the rights of mediation either by written notification or failing to respond, the director may issue a mediation release to the initiating party.

          Source: 15 SDR 20, effective August 7, 1988; 30 SDR 204, effective June 28, 2004; 41 SDR 93, effective December 2, 2014.

          General Authority: SDCL 54-13-2.

          Law Implemented: SDCL 54-13-2, 54-13-10.