70:05:03:10.  Inspection of the borrower by the board and retention of records. During the term of the loan, the board or department may inspect the project and require the borrower to provide any books and records necessary to ensure compliance with the terms of the loan agreement. The borrower shall retain all its accounting and tax records for three years after all principal and interest on the loan has been paid.

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

    General Authority: SDCL 49-16C-3.

    Law Implemented: SDCL 1-44-20, 49-16C-3.