70:05:03:08.  Loan security. Loans may be secured by a guarantee or promissory note executed by the benefitted entity, liens on the interest of the borrower in all real and personal property, easements, rights-of-way, a commitment by the borrower to exercise taxing authority, and any other assets of the borrower considered necessary by the board to adequately secure the loan.

    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.